Singapore Doctor Fined S$120,000 for Insider Trading Ahead of Medical Group Takeover

According to a joint statement from the Monetary Authority of Singapore (MAS) and the Commercial Affairs Department, Dr Chua Han Boon Kenneth was fined S$120,000 after admitting to insider trading ahead of Singapore Medical Group Limited's proposed privatisation. Dr Chua purchased 210,000 shares on September 6 and 7, 2022, after receiving confidential information about the planned acquisition, which was not publicly announced until September 13. The total purchase cost was S$67,200. Rather than pursuing criminal charges, MAS resolved the matter through Singapore's civil penalty regime. Dr Chua admitted breaching the Securities and Futures Act and accepted a voluntary undertaking prohibiting him from serving as a company director or participating in company management for two years.
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