Natural Cool

Thread Rating:
  • 1 Vote(s) - 5 Average
  • 1
  • 2
  • 3
  • 4
  • 5
I just wonder how did mas/brokerage house find out that he was the beneficial owner of the two separate accounts maintained by 2 other persons?

AsiaOneThursday, Oct 31, 2013SINGAPORE - The former executive director of local building solutions company Natural Cool Holdings has been fined $150,000 by the Monetary Authority of Singapore (MAS) for contravening the Securities and Futures Act (SFA). According to a statement released by MAS, Mr Ang Choon Cheng carried out purchases which were intended to create, and which created, a false or misleading appearance with respect to the price of securities. His actions also violated a section in the SFA, which prohibits the employment of manipulative and deceptive devices in connection with the subscription, purchase or sale of securities. Mr Ang, who was then an executive director of Natural Cool Holdings Ltd, had pledged Natural Cool shares to financial institutions for financing purposes. On 35 days between Jan 9, 2008 and June 16, 2009, Mr Ang bought Natural Cool shares to maintain or raise the price of Natural Cool shares so as to prevent margin calls. As a result of the purchases, Natural Cool shares closed as much as 12 bids, or 30 per cent, above the preceding traded price. Through his actions, Mr Ang intended to create, and created a false or misleading appearance with respect to the price of Natural Cool shares, MAS said. Mr Ang carried out the purchases, as well as two sale transactions in Natural Cool shares, using the securities trading accounts maintained by two other persons with the same brokerage house. This led the the brokerage house into believing that the purchases and sales were for the benefit of the respective account holders, when he was in fact the beneficial owner of those trades. Mr Ang was subsequently made to pay a civil penalty of $150,000 to MAS without court action. Mr Ang has also resigned as a director and Chief Executive Officer of Natural Cool on Oct 31, and has also given a voluntary undertaking to MAS not to be a company director for a period of one year with effect from Oct 31, 2013.
Natural Cool ($0.096) - Just yesterday, it went up to a high of $0.50 and today closing at merely $0.097 with heavy trading volume. With NAV of around $0.16, was wondering if this price ($0.097) provides a rare BUY opportunity out from this messy boardroom tussle or just another pump and dump scenario? 

However, something worth to note: 

Substantial Shareholder Mr Lim Teck Chuan acquired 4,500,000 shares at an average price of about $0.23 per share, thus increasing his stake from 9.56% to 11.35% in today SGX announcement (16 Dec 2016)


Substantial shareholder Mr Ong Mun Wah acquired 6,022,800 at an average price of $0.2074 per share and 1,500,000 at an average price of $0.213 per share, thus increasing his stake from 7.99% to 10.99% in today SGX announcement (16 Dec 2016)


For discussion....   Rolleyes

(Caveat Emptor)
i say just leave it, no point throwing good money into bad management/companies.

plenty of value companies still around, Big Grin Big Grin Big Grin

Biggest case so far,

"The authorities revealed the trio controlled over 180 trading accounts - owned by 59 individuals who had given them access - to manipulate shares in Blumont Group, Asiasons Capital and LionGold shares “to create an illusion of liquidity and demand for these shares by making thousands of manipulative trades … and to control the supply of these shares available to the market to influence the price of these counters”."
1) Try NOT to LOSE money!
2) Do NOT SELL in BEAR, BUY-BUY-BUY! invest in managements/companies that does the same!
3) CASH in hand is KING in BEAR! 
#4 kaki in HK told me this new souk loute very weird one....director selling and company buy back shares on same that also can meh?...ownself buy ownself......sgx never notice one...sigh....i kena snooker liao!
Hi Billchanhk,

As our readers are predominantly Singaporeans with an adequate grasp of the English language, I would appreciate your assistance to translate a few terms in your sentence such as "new souk loute".

Thank you

Forum Jump:

Users browsing this thread: 1 Guest(s)