Singapore penny stocks crash: Defence drills witness on clause E7
Quah Su-Ling and first accused John Soh, a Malaysian businessman, pleaded not guilty to 178 and 189 charges respectively, in relation to the Asiasons, Blumont, and LionGold’s penny stocks crash in 2013. — Reuters pic
Seventh witness Esther Seet, an executive director of Lim & Tan Securities Pte Ltd was crossed examined by second accused Quah Su-Ling’s counsel Philip Fong of Eversheds Harry Elias LLP on the 14th day of the trial here. Fong was given an emphasis on instructions given “on behalf of the client” which LTS allowed without further enquiry as to the accuracy, completeness or genuineness, or the authority or identity of the person giving or purporting to give such instructions and regardless of the circumstances prevailing at the time.During the cross examination, Seet was given the opportunity to explain further on the clause by High Court Judge Hoo Sheau Peng.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Singapore penny stock crash: Defence demands amendments to 161 charges | Malay MailSINGAPORE, May 10 — Both John Soh and Quah Su-Ling’s lawyers today asked the prosecution team to amend the 11th to 172nd charges to provide sufficient particulars related to the instructions to place orders and trades. Soh’s counsel Narayanan Sreenivasan of K&L Gates Straits Law LLC said...
Read more »
2013 penny stocks crash trial: Witness says took orders from accused | Malay MailSINGAPORE, May 7 — The fourth witness for the joint trial over the 2013 penny stocks crash insisted that she was taking orders only from the second accused person Quah Su-Ling although in some occasions no trade confirmations were made. Angelia Poon, a remisier at OCBC Securities Pte Ltd...
Read more »
Penny stock crash: First private bank rep takes stand, reveals losses | Malay MailSINGAPORE, May 8 — The first private bank representative who took the stand on the 11th day of the 2013 penny stock crash joint trial here today said, his company eventually had to write-off outstanding trade losses which amounted to S$5,611,372 (RM23.3 million). Martin Thurnham who is presently...
Read more »
Clock ticking for MACC ahead of new legal clause targeting corporate corruption | Malay MailKUALA LUMPUR, May 11 ― The nation’s graftbusters have just 13 months to familiarise themselves with the Section 17A of the Malaysian Anti Corruption Commission (MACC) Act 2009 ― a clause introduced last year that specially makes companies liable for corrupt acts. The statutory corporate...
Read more »
Witness: KWAP’s RM4b loans to SRC were Shariah-compliant contracts to buy, sell assets | Malay MailKUALA LUMPUR, May 7 — Retirement Fund Incorporated’s (KWAP) two loans totalling RM4 billion to SRC International Sdn Bhd were structured as Shariah-compliant contracts for the latter to sell and buy back its assets, the High Court heard today. Former KWAP official Amirul Imran Ahmat, 39, today...
Read more »
Najib’s SRC trial: Witness agrees Putrajaya’s word sole selling point for KWAP’s loan | Malay MailKUALA LUMPUR, May 7 — Putrajaya’s guarantee of a second RM2 billion loan that SRC International Sdn Bhd wanted to borrow from Retirement Fund Incorporated (KWAP) was the single selling point behind the civil servants’ pension fund’s eventual decision to approve the 2012 loan, the High Court...
Read more »
Najib’s SRC trial: Witness insists KWAP investment guidelines breached despite waiver for RM2b loan | Malay MailKUALA LUMPUR, May 7 — The investment guidelines for the Retirement Fund Incorporated (KWAP) were breached when it decided to give the first loan of RM2 billion to then 1MDB subsidiary SRC International Sdn Bhd in 2011, the High Court heard today in the trial of former prime minister Datuk...
Read more »
Najib’s trial: Witness concedes unknown if SRC used KWAP loans for CSR | Malay MailKUALA LUMPUR, May 8 — A witness in Datuk Seri Najib Razak’s ongoing trial today conceded that he did not personally know if SRC International Sdn Bhd had used money borrow from civil servants’ pension fund Retirement Fund Incorporated (KWAP) for corporate social responsibility (CSR)...
Read more »
SRC trial: Witnesses describe RM4b loan as among biggest by KWAP | Malay MailKUALA LUMPUR, May 9 — The Retirement Fund Incorporated’s (KWAP) two loans totalling RM4 billion to SRC International Sdn Bhd were among the largest approved by the civil service pension fund, said two witnesses responsible for the approval of the payment vouchers. The prosecution’s 34th...
Read more »
Witness says original Investment Papers on KWAP’s RM4b loan to SRC International missing | Malay MailKUALA LUMPUR, May 9 — Several original copies of Investment Panel Papers pertaining to the Retirement Fund Incorporated (KWAP) RM4 billion loan to SRC International Sdn Bhd is currently nowhere to be found, the High Court heard today. The prosecution’s 35th witness, KWAP Legal and Secretarial...
Read more »
Warriors’ title defence gets tricky after Durant injury | Malay MailOAKLAND, May 9 — Golden State Warriors’ title defence may now hobble along with their leader Kevin Durant who suffered a calf injury yesterday that makes him doubtful for the playoffs. Durant limped off the court with a non-contact right leg injury during the third quarter of his team’s Game...
Read more »