Soh, Quah said to be hit with at least S$400m trading loss
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Singapore
THE penny stock crash in 2013 caused John Soh Chee Wen and Quah Su-Ling to incur at least S$400 million in trading losses, the High Court heard in the ongoing trial of the pair accused of manipulating the market.
Prosecution witness Tai Chee Ming testified on Sept 30 that he and a few others who assisted Quah and Soh in their trades met up after the crash, which wiped S$8 billion off in market value in just days in October 2013. They looked at the total losses in all the known proxy accounts controlled by Quah and Soh, and estimated that the pair were S$400 million in the red as a result of the market crash.
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