Repco case a reality check for those watching Singapore penny stock probe
THE saga involving Malaysia's Repco Holdings, arguably the biggest market manipulation incident its stock market has witnessed - at the very least, it is the most jaw-dropping event in the country's mid-90s bull run - has reached closure almost two decades since the alleged offence took place.
The protracted timeline - highly disenchanting for impatient governance hawks - should serve as a reality check for investors here hankering for visible progress on Singapore regulators' probe into possible false trading and market rigging which could have triggered the epic rise and fall of certain penny stocks on the Singapore Exchange three years ago.
Malaysia's case involving Repco, a gaming concern, and its former executive chairman Low Thiam Hock who was found guilty this month for manipulating its share price, involves many twists and turns that almost match the stock's stunning gyrations during the "wi…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
TSMC estimates losses of US$92.4 million due to Taiwan earthquake
Singapore loses ‘world’s best airport’ crown to Qatar
Higher gross rental income, lower expenses boost CICT’s Q1 NPI by 6.3% to S$293.7 million
Stocks to watch: CICT, Seatrium, Keppel DC Reit, UOB
Keppel DC Reit reports 13.7% lower Q1 DPU of S$0.02192
Netflix handily beats subscriber targets, misses on revenue forecast