The Monetary Authority of Singapore and the Commercial Affairs Department of the Singapore Police Force announced that MAS has imposed a civil penalty of S$120,000 on Dr Chua Han Boon Kenneth for insider trading in shares of Singapore Medical Group Limited. The action relates to purchases made before Singapore Medical Group announced on 13 September 2022 that it had received a voluntary conditional general offer from TLW Success Pte Ltd to privatise the company. Before that announcement, Dr Chua was one of a small number of shareholders approached by the offeror and informed of the planned privatisation and the intention to expand Singapore Medical Group’s operations. He was also asked to sign an irrevocable undertaking in support of the offer. While in possession of that material non-public information, he bought 210,000 Singapore Medical Group shares on 6 and 7 September 2022 for a total of S$67,200. Dr Chua admitted breaching section 218(2)(a) of the Securities and Futures Act, paid the civil penalty without court action, and gave a voluntary undertaking not to serve as a company director or be involved in the management of a company for two years. The case resulted from a joint investigation by the Commercial Affairs Department and MAS, which was initiated after a referral from Singapore Exchange Regulation Private Limited.
Monetary Authority of Singapore2026-06-30
Monetary Authority of Singapore imposes S$120,000 civil penalty for insider trading in Singapore Medical Group shares
The Monetary Authority of Singapore, in a joint statement with the Commercial Affairs Department, imposed a S$120,000 civil penalty on Dr Chua Han Boon Kenneth for insider trading in Singapore Medical Group shares ahead of a September 2022 privatisation offer announcement. While holding material non-public information, he bought 210,000 shares for S$67,200, admitted the breach and paid the penalty without court action. He also undertook not to serve as a company director or be involved in company management for two years.