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…