MAS Takes Civil Penalty Enforcement Action against

Home >> Press Release

MAS Takes Civil Penalty Enforcement Action against

Mr Pu Weidong and Triumpus Assets Management Pte Ltd for Insider Trading

Singapore, 3 May 2016... The Monetary Authority of Singapore (MAS) has taken civil penalty action against Pu Weidong (Pu) and Triumpus Assets Management Pte Ltd (Triumpus) for insider

trading in the shares of Sinomem Technology Ltd (Sinomem).

2 Pu was the Chief Financial Officer in Sinomem when the contraventions took place. Pu is also the sole director and shareholder of Triumpus.

3 Between 2 and 27 March 2009, Pu and Triumpus purchased 4,605,000 Sinomem shares when Pu possessed confidential price-sensitive information concerning a proposed share

buyback offer by Sinomem, which was subsequently announced on 27 March 2009. Pu and Triumpus made a profit of S$49,542 on these insider trades.

4 Between 25 and 31 August 2009, Pu and Triumpus sold 14,174,000 Sinomem shares when Pu possessed knowledge of confidential, price-sensitive information on a proposed

placement of shares by Sinomem. Information on the proposed share placement was subsequently announced on 9 September 2009. Pu and Triumpus did not make any profit or

avoid any loss on these trades.

5 On 26 February 2015, MAS commenced a civil penalty action in the State Court of Singapore (DC Suit No. 586 of 2015) against Pu and Triumpus for insider trading in Sinomem’s

shares under the Securities and Futures Act (SFA).

6 Pu and Triumpus have admitted to contravening sections 218(2)(a) and 219(2)(a) of the SFA, and will pay to MAS a civil penalty of S$316,000, as well as S$61,610.75 for the legal costs

and disbursements incurred by MAS for the civil penalty action. Pu has also given a voluntary undertaking not to be a company director or be involved in the management of a company for a

period of one year with effect from 3 July 2016.

Reach Southeast Asia! 10- Nations, 560- Million Consumers And $1 -Trillion Market
We are the Voice of Southeast Asia	*Media Kit*
The only Media Dedicated to Southeast Asia	*Advertising Rates for Magazine*
	*Online Ad Rates*
Contact: marketing@aseanaffairs.com

Comment on this Article. Send them to your.views@aseanaffairs.com
Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited

or
submit your comment in the box below

Today's Stories May 6, 2016

Subsribe Now !

• Asian visitors continue to lead tourism sector growth

• Subcribe: Asean Affairs Global Magazine

• Cambodia bars cars near Angkor Wat temple

• Indonesia Q1 GDP slows to 4.92%

	Research Reports on Thailand 2007-2008
	• Textiles and Garments Industry • Coffee industry • Leather and footwear industry • Shrimp industry

• Malaysia's scandal-hit Najib seeks big win in Borneo state polls

• FDI helps boost industrial infrastructure

Asean Analysis April 29, 2016
• Asean Analysis April 29, 2016
The Overlooked Gap in the Southeast Asia Maritime Security Initiative

• Advertise Your Brand

Asean Stock Watch May 4, 2016
• Asean Stock Watch-May 4, 2016

The Biweekly Update
• The Biweekly Update April 29, 2016

ASEAN NEWS UPDATES Updated: 04 January 2011

• Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent
• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan

ASEAN ANALYSIS

This year in Thailand-what next?

AseanAffairs 04 January 2011
By David Swartzentruber

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

Page1	\|Jan'15-Dec'15	\|Jan'16-Dec'16

Name

Email

1. Verifier