The Monetary Authority of Singapore (MAS) has imposed a civil penalty of SGD 137,000 on Mr Ang Yew Jin Eugene for insider trading in shares of SGX-listed Alpha Energy Holdings Limited, now known as Alpha DX Group Limited. The case relates to a 2019 default under a loan agreement, ahead of the company’s announcement that a creditor had demanded immediate repayment of a USD 64 million principal sum and subsequent suspension of trading in the shares. MAS found that, while a non-executive director and in possession of non-public, material information about the default and the creditor’s right to accelerate repayment, Mr Ang sold 2,413,300 shares held in his parents’ trading accounts prior to the announcement, allowing his parents to avoid losses of about SGD 54,900. Mr Ang admitted to contravening section 218(2)(a) of the Securities and Futures Act, paid the penalty without court action, and provided a voluntary undertaking not to be a director or involved in company management for two years, except where MAS consents. MAS noted the civil penalty action followed a joint investigation with the Singapore Police Force’s Commercial Affairs Department, after a referral by Singapore Exchange Regulation Private Limited.
Monetary Authority of Singapore 2025-11-17
Monetary Authority of Singapore imposes SGD 137,000 civil penalty on former Alpha Energy director for insider trading
The Monetary Authority of Singapore imposed a civil penalty of SGD 137,000 on Mr. Ang Yew Jin Eugene for insider trading in shares of Alpha Energy Holdings Limited. Mr. Ang, a former non-executive director, sold shares based on non-public information about a loan default, avoiding losses of SGD 54,900. He admitted to contravening the Securities and Futures Act and agreed not to serve as a director for two years without MAS consent.