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Former CIMB banker admits to insider trading in two takeover stocks

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Published Fri, May 26, 2017 · 09:50 PM

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Singapore

ALAN Tay Yeow Kee, a former CIMB Group Holdings Bhd banker, has admitted to insider trading in two stocks before the companies received takeover offers.

Tay, 41, pleaded guilty to trading on price-sensitive information in a Singapore State Court on Friday and was fined S$180,000. He bought shares in Qualitas Medical Group Ltd and welding products supplier Leeden Ltd in 2011 before the information he had was publicly available. CIMB was the financial adviser in both deals, prosecutor Joel Chen said in court. The companies were de-listed from Singapore's stock exchange after being acquired.

Insider trading

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