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Daily Debrief: What Happened Today

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THE fines come alongside action taken against various misconduct that include one criminal conviction for false trading, S$698,000 in civil penalties for misconduct in trading, 19 prohibition orders that bar individuals from working in the financial industry, and 223 warnings.

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Fines totalling S$16.8m slapped on 42 financial firms in Singapore in 18 mths ended December '18

THE fines come alongside action taken against various misconduct that include one criminal conviction for false trading, S$698,000 in civil penalties for misconduct in trading, 19 prohibition orders that bar individuals from working in the financial industry, and 223 warnings.


 

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Penny scandal: Brokers lost S$350m; ex-IPCO exec to serve 3 years in prison

GOH Hin Calm, in a white, long-sleeved shirt and without displaying any outward emotion, pleaded guilty to two charges of abetment. Justice See Kee Oon sentenced Goh, a former interim chief executive of IPCO International, on Wednesday to three years in prison.


Temasek-backed Pine Labs buys India gift card solutions provider Qwikcilver for US$110m

THE purchase was funded from the company’s cash reserves and additional funding from existing investors, the point-of-sales solutions company, which is also India-based, said on Tuesday.


Boulevard 88 high-end condo sells 20 units worth over S$160m

FREEHOLD luxury development Boulevard 88 in prime district 10 has sold 20 residential units at an average selling price of S$3,550 per square foot, of the 25 units released to date.


Singapore startup AnyMind Group closes Series B funding with US$21.4m

THE new investors are Thailand's VGI Global Media plc (VGI) and Japanese financial services company, Tokyo Century Corporation.


The STI today

Singapore shares drop 0.4% on Wednesday

THE Straits Times Index (STI) pared Tuesday's gains to close 13.26 points or 0.4 per cent lower at 3,207.66.