5 men charged for failing to disclose sensitive information to SGX: report

SGX Logo. Reuters

Five men were charged on Tuesday for intentionally failing to disclose sensitive price information to the Singapore Exchange (SGX), Channel NewsAsia reported.

The five accused Oh Gim Teck, 68; Go Twan Heng, 67; Ngiam Zee Moey, 61; Tham Poh Weng, 60 and Desmond Ong Tai Tiong, 48, are said to have committed the offence sometime between 2007 and 2010, the report said citing court documents.

The information held by the accused could have affected the price or value of a company's securities.

At the time of the alleged offence, the five suspects were officers of New Lakeside Holdings Limited, or NLHL, the report said.

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New Lakeside was renamed Zhongxin Fruit & Juice in March 2013 and is listed on the Catalist board of the SGX.

The five are accused of failing to notify SGX that the Bank of China had taken legal action against NLHL subsidiary New Lakeside Fruit Juice for nearly 23 million yuan, according to the report.

If found guilty, each of the accused could be fined up to S$250,000, jailed up to seven years, or both.

This article was first published on January 17, 2018