Witness 'co-ordinated trades in Blumont with another remisier'

Singapore

A FORMER OCBC Securities remisier was accused on Monday of acting with another individual to co-ordinate trades in the Blumont Group, one of three penny stocks said to have been manipulated, sending its price into a spectacular collapse in 2013.

Defence counsel Philip Fong, whose client Quah Su-Ling, 54, is standing trial with co-accused John Soh Chee Wen for allegedly rigging the market of Blumont, Asiasons Capital (now Attilan Group) and LionGold Corporation - collectively known as BAL - drew the attention of the court to a series of trades that then-OCBC Securities remisier Ng Kit Kiat placed on Jan 16, 2013 in Blumont in two accounts at OCBC Securities, after receiving a flurry of phone calls from a number belonging to UOB Kay Hian remisier Alice Ang Cheau Hoon.