<TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR>If they are CSJ leh? Old Fcuk will make sure they DIE straight away!
Nov 16, 2009
</TR><!-- headline one : start --><TR>2 directors fined $330,000 <!--10 min-->
</TR><!-- headline one : end --><!-- Author --><TR><TD class="padlrt8 georgia11 darkgrey bold" colSpan=2>By Elena Chong, Courts Correspondent
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</TD><TD width=10>
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Ho Leng Woon (left) was fined $150,000 while Ang Luck Seh (far left) was fined $80,000 for offences under the Securities and Futures Act. -- ST PHOTO: WONG KWAI CHOW
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<!-- START OF : div id="storytext"-->TWO directors of AP Oil International, were fined on Monday for offences under the Securities and Futures Act.
Ho Leng Woon, 61, the chairman and managing director, was fined $150,000 for making a misleading statement in an announcement to the Singapore Exchange on Nov 2, 2004.
AP Oil's then executive director Ang Luck Seh, also 61, was fined $80,000 after he admitted to insider trading relating to the purchase of 85,000 company shares then amounting to about $26,000 on Oct 5 that year.
The misleading statements involved iron ore sales and purchase agreements with a Thai company and the corresponding sale of iron ore fines to a Chinese company.
AP Oil signed two iron ore trading contracts potentially worth a total of more than US$700 million (S$974 million) on Sept 24, 2004, but this was not disclosed immediately to the SGX.
On Nov 2 that year, a sharp increase in the trading volume of AP Oil shares prompted an SGX query. AP Oil made the disclosure only 16 days later, on Nov 18.
Ho had two charges and Ang had another charge considered during their sentencing. Both men could each have been fined up to $250,000 or jailed for up to seven years or to both.
Nov 16, 2009
</TR><!-- headline one : start --><TR>2 directors fined $330,000 <!--10 min-->
</TR><!-- headline one : end --><!-- Author --><TR><TD class="padlrt8 georgia11 darkgrey bold" colSpan=2>By Elena Chong, Courts Correspondent
</TD></TR><!-- show image if available --><TR vAlign=bottom><TD width=330>
</TD><TD width=10>
Ho Leng Woon (left) was fined $150,000 while Ang Luck Seh (far left) was fined $80,000 for offences under the Securities and Futures Act. -- ST PHOTO: WONG KWAI CHOW
</TD></TR></TBODY></TABLE>
<!-- START OF : div id="storytext"-->TWO directors of AP Oil International, were fined on Monday for offences under the Securities and Futures Act.
Ho Leng Woon, 61, the chairman and managing director, was fined $150,000 for making a misleading statement in an announcement to the Singapore Exchange on Nov 2, 2004.
AP Oil's then executive director Ang Luck Seh, also 61, was fined $80,000 after he admitted to insider trading relating to the purchase of 85,000 company shares then amounting to about $26,000 on Oct 5 that year.
The misleading statements involved iron ore sales and purchase agreements with a Thai company and the corresponding sale of iron ore fines to a Chinese company.
AP Oil signed two iron ore trading contracts potentially worth a total of more than US$700 million (S$974 million) on Sept 24, 2004, but this was not disclosed immediately to the SGX.
On Nov 2 that year, a sharp increase in the trading volume of AP Oil shares prompted an SGX query. AP Oil made the disclosure only 16 days later, on Nov 18.
Ho had two charges and Ang had another charge considered during their sentencing. Both men could each have been fined up to $250,000 or jailed for up to seven years or to both.
