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MAS fines shareholder for not disclosing interests in first case of civil penalty for such breaches

He failed to notify China Real Estate Group of changes to his substantial holding on 32 occasions; also gave false information

Singapore

THE Monetary Authority of Singapore (MAS) has slapped a S$200,000 civil penalty on Lim Soon Fang, an investor in Catalist-listed China Real Estate Group, formerly known as Asia-Pacific Strategic Investments Limited (ASIL), for not disclosing changes in, and providing false...