Asia/Pacific News
Former Singapore Bunker Supplier Director Charged With False Trading Offences
Goh Jin Hian, the former director of Singapore bunker supplier Inter-Pacific Petroleum and former CEO of investment firm New Silkroutes Group (NSG), was charged with false trading offcences this week.
Goh, the son of former Singapore Prime Minister Goh Chok Tong, faces 39 charges under the Securities and Futures Act, media firm Channel News Asia reported on Wednesday.
Three others connected to NSG were also charged: former Executive Director Kelvyn Oo Cheong Kwan, former finance director William Teo Thiam Chuan and Huang Yiwen, a commercial market-maker engaged by the firm.
Goh is accused of conspiring to create a misleading appearance of the price of NSG securities on 31 trading days between February and August 2018, according to the report.
Goh is the former director of Inter-Pacific Petroleum. The company had been listed as Singapore's 26th-largest bunker supplier by volume in 2018, but in July 2019 had its bunker craft operator licence suspended and then cancelled by the Maritime and Port Authority as part of investigations into suppliers' alleged use of magnets to influence mass flow meter readings.
The supplier began a court-led debt restructuring process in September 2019, saying at the time it had insufficient cash to sustain operations.
