Alpha Energy’s Ex-MD Fined $137,000 by MAS for Insider Trading

Alpha Energy’s ex-MD fined $137,000 by MAS for insider trading

He has made a voluntary undertaking not to be a director or be involved in the management of a company for two years. Read more at straitstimes.com.

MAS fines former Alpha Energy non-executive director S$137K for insider trading

SINGAPORE: The Monetary Authority of Singapore (MAS) has imposed a S$137,000 civil penalty on former Alpha Energy Holdings Limited (AEHL) non-executive director Ang Yew Jin Eugene for insider trading involving the company’s shares. The company is now known as Alpha DX Group Limited. According to a joint statement by the MAS and the Singapore Police […]

MAS Fines Former AEHL Director S$137,000 for Insider Trading

Mr Ang, a non-executive director of the SGX-listed company in 2019, sold more than 2.4 million shares held in his parents’ accounts on 13 November 2019 while in possession of non-public, material information.  MAS stated that at the time, he was aware that the company had defaulted on a loan repayment and that the creditor had the right to demand immediate repayment of the entire US$64 million principal. Five days later, Alpha Energy announced t…

MAS imposes S$137,000 penalty on Alpha Energy’s ex-managing director for insider trading

He has also given a voluntary undertaking not to be a director or be involved in the management of a company for two years