KS Energy shares plummet as chairman and son face CAD probe

Singapore

KS ENERGY'S shares plunged on Monday to a new 52-week low on news that its executive chairman and its executive director are facing investigations by the Singapore white-collar crimebuster for a potential breach of the Securities and Futures Act.

The counter opened at S$0.076 on Monday, down 0.8 cent, but closed two cents or 23.8 per cent lower at a 52-week low of S$0.064. Close to 447,000 shares changed hands compared with its three-month average trading volume of 30,000 shares.