The Business Times
business-time-50
MARK TO MARKET

John Soh’s recalcitrance calls for tough stance

Penny stock crash of 2013 underscores need for law enforcement agencies that are vigilant, vigorous and even a bit vicious

Summarise
google-preferred-sourceAdd BT as a preferred source
Ben Paul

Ben Paul

Published Mon, May 9, 2022 · 05:50 AM
    • Quah Su-Ling (left) and John Soh Chee Wen are accused of masterminding Singapore’s most serious case of stock market manipulation.
    • Quah Su-Ling (left) and John Soh Chee Wen are accused of masterminding Singapore’s most serious case of stock market manipulation. The Straits Times

    JOHN Soh and Quah Su Ling were found guilty this past week of a massive market manipulation operation that led to the infamous Singapore penny stock crash of 2013.

    This marked a hard-won victory for Singapore’s law enforcement authorities.

    Immediately after Justice Hoo Sheau Peng delivered her oral judgement – finding Soh guilty on 180 of 188 charges, and Quah guilty on 169 of 177 charges – the Singapore Police Force (SPF) and Monetary Authority of Singapore (MAS) reminded everyone what it took to get here.

    Monetary Authority of SingaporeSGXSoh Chee Wenblumont groupLionGold

    TRENDING NOW

    This comes after a Citi note that lifted target prices for all Singapore banks, with a leading preference and “buy” call for DBS.

    DBS, OCBC and UOB shares hit all-time highs as sentiment improves

    Recent cuts at e-commerce platforms such as Shopee is signalling shifting business priorities.

    E-commerce job cuts signal S-E Asia’s shift from scaling to deeper user engagement

    The eligible projects include Sun Group’s developments linked to the Asia-Pacific Economic Cooperation summit in Phu Quoc in 2027.

    Targeted credit relief: Vietnam steers funding to Vingroup, Sun Group, Masterise megaprojects

    Koh Boon Hwee says humans have accepted that robots can take over the most repetitive, manual tasks, but are nervous about AI, which can also think.

    With AI, it’s not about coding better; workers need to think better: Koh Boon Hwee

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More