Bloomberg.com, 28 Aug 2009
Aug. 28 (Bloomberg) -- Singapore’s central bank sued Pheim Asset Management Pte Chief Executive Officer Tan Chong Koay and the fund manager’s Malaysian unit for manipulating the shares of a water treatment company.
Tan and Pheim Asset Management Sdn. bought almost 90 percent of the traded shares of Singapore-based United Envirotech Ltd. from Dec. 29 to Dec. 31, 2004, according to a statement presented to Singapore’s High Court by the Monetary Authority of Singapore’s lawyers Drew & Napier LLC yesterday.
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Related:
Landmark case in Singapore on rigging the market - The Malaysian Insider
