BEATEN and bruised, Asiasons Capital shares have suffered much pain but, unlike many of its penny stock cohorts, the private-equity firm and its top executives are not being investigated by Singapore's white-collar crime buster for possible breaches of securities laws.

After getting battered to a low of 3.8 cents on Monday, Asiasons shares gained some ground yesterday, ending the day some 5 per cent higher at four cents, still a far cry from the high of $2.83 it hit last October days before the stock came crashing down.

Amid the penny stock controversy surrounding trading in its shares and investigations into several firms linked to it by the Commercial Affairs Department (CAD), one of Asiasons' founders and chairman, Mohammed Azlan Hashim, has called it a day at the firm.