Singapore widens stock-trade probe

Magnus, Innopac asked to assist in investigations.

According to a report by Bloomberg, Singapore authorities widened their share-trading probe to include executives from two more companies as the police and central bank investigate a rout that wiped $6.9 billion of market value in October.

The Monetary Authority of Singapore and the Commercial Affairs Department, the white-collar crime unit of the police, are investigating trading in shares of Blumont Group Ltd. (BLUM), Asiasons Capital Ltd. and LionGold Corp. for possible breaches of the Securities and Futures Act, according to an April 2 statement. Magnus Energy Group Ltd. (MAGE) and Innopac Holdings Ltd. (INN) said today they or their units are being asked to assist in CAD investigations, including supplying electronic data belonging to executives.

Read full report here.