LionGold Corp

Gold shines as geopolitical worries grow; coal slumps with call for green energy

SINGAPORE (Dec 20): With numerous industries around the world depending on the supply of minerals and metals, miners are pivotal to the global economy. Yet, miners seem to have encountered a tough year, grappling with issues such as geopolitical uncertainties and a slowing global economy.

According to KPMG’s 2019 outlook, macro financial risks pose the biggest risk to the mining industry. Other factors include access to capital, an economic downturn and political instability.

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China’s Yaos assume control over LionGold

SINGAPORE (Nov 25): LionGold Corp was one of the three counters at the centre of the 2013 penny stock saga. Since October that year, its share price has crashed to stay rangebound at the rock bottom of 0.1 cent on most days.

The company, in its previous reincarnation, was listed in 2005 before a shift into gold mining, following the acquisition of assets such as the Castlemaine Goldfields mine in Australia.

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Witness Ken Tai admits to market manipulation for his own gain after lengthy cross-examination

SINGAPORE (Oct 4): A witness in the trial of the alleged masterminds of the 2013 penny stocks crash, John Soh Chee Wen and Quah Su Ling, today admitted to manipulation of the stock market for his own gain.

However, the witness, former broker Ken Tai Chee Ming, said he is only admitting to manipulation in order to “make him [Senior Counsel N. Sreenivasan] happy” after a protracted and frustrating back-and-forth that ended only when Justice Hoo Sheau Ping intervened.

US picks new fight with EU, global recession feared

SINGAPORE (Oct 7): The bleak economic outlook could be realised sooner rather than later as negative factors emerge.

This week, data from Automatic Data Processing showed that US businesses had added a modest 135,000 jobs in September. The weak data further suggests that the US economy is not as robust as previously thought. ADP also lowered its estimate of new jobs created in August to 157,000 from 195,000 previously. ADP is a global provider of human resources management software and services, and its data is seen as a bellwether of hiring trends.

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Witness Ken Tai 'disgusted' by the way boss John Soh treated his closest allies

SINGAPORE (Oct 3): John Soh Chee Wen, alleged mastermind of the 2013 penny stock crash, was a boss who did not treat closest members of his market-rolling gang well.

This was revealed in court on Thursday as the prosecution finished up its examination-in-chief of prosecution witness Ken Tai Chee Ming, who was once part of Soh’s “inner circle”.

More tales of jealousy, betrayal emerge in penny stock trial

SINGAPORE (Oct 2): More tales of jealousy and betrayal have emerged from the trial of John Soh Chee Wen and Quah Su-Ling, as former abettor-turned-prosecution witness Ken Tai Chee Ming (image) returned to the stand on Wednesday.

Under examination-in-chief by the prosecution, Tai recounted the way Soh and Quah – the alleged masterminds behind the 2013 penny stock crash – had carried out their “market rolling” activities for shares in Blumont Group, Asiasons Capital (now called Attilan Group) and LionGold Corp (BAL).

Prosecution witness Ken Tai reveals more stock brokers involved in 'market rolling' web

SINGAPORE (Oct 1): Prosecution witness Ken Tai Chee Ming has exposed more names within the local stock broking community that had connections with alleged 2013 penny stock crash masterminds John Soh Chee Wen and Quah Su-Ling.

Tai, who was once part of the duo’s “inner circle”, had said in his conditioned statement that one Roger Tan had introduced him to Quah in late 2010.

In court on Tuesday, Tai revealed that Tan was the chief executive officer of Voyage Research – the spin-off of the Singapore Investors Association (Singapore) that was formerly known as SIAS Research.

New shareholders take control of LionGold

SINGAPORE (Oct 1): LionGold Corp, one of the three companies at the centre of the 2013 penny stock crash saga, is now under the control of new shareholders.

At a special general meeting on Sept 30, shareholders approved a series of resolutions, including the issuance of 23 billion new shares at 0.1 cent each to two investors from China: Yao Liang and Yao Yuan.

They hold 51% and 49% respectively in an entity called Yaoo Capital, which is used to invest in LionGold. With the investment of $23 million, they now own more than 72% of the enlarged share capital of LionGold.

John Soh trial resumes with a peek into deceit, betrayal in 'inner circle'

SINGAPORE (Sept 30): Ken Tai Chee Ming was a commissioned dealer at AmFraser Securities (now known as KGI Securities Singapore) in 2010 when he was first introduced to Quah Su-Ling and John Soh Chee Wen – the alleged masterminds behind the penny stock crash of 2013.

Within two years, Tai quickly became “a lot more involved” in the duo’s market operations, and was considered part of the “inner circle” of traders that Soh entrusted with more responsibilities. But the relationship soon soured, amid a tale of betrayal and broken promises.

Annica chairman Ong quits just as $33 mil goes missing at his law firm JLC

SINGAPORE (May 27): Jeffrey Ong, managing partner of law firm JLC Advisors, may have given instructions to pay out a sum of $33.2 million held in escrow by his firm for a client, Allied Technologies. According to Allied’s statement filed with Singapore Exchange on May 23, the payment may have been “unauthorised”, citing a letter it received from JLC on May 22. Allied’s statement did not specify who the payment was made to.

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