Singapore's MAS Fines Former Alpha Energy Director S$137,000 for Insider Trading

The Monetary Authority of Singapore (MAS) has imposed a civil penalty of S$137,000 on Ang Yew Jin Eugene for insider trading involving shares of Alpha Energy Holdings Limited (AEHL), a company listed on the Singapore Exchange.

According to MAS, Ang was a non-executive director of AEHL in November 2019 when he became aware that the Group had defaulted on a loan repayment. Under the loan agreement, the creditor was entitled to demand immediate repayment of the full principal amount—US$64 million—significantly exceeding the Group's reported current assets at the time.

Before this information became public, Ang sold more than 2.4 million AEHL shares held in his parents' trading accounts on 13 November 2019. Days later, on 18 November, AEHL announced that the creditor had invoked its right to demand immediate repayment, after which trading in the company's shares was suspended. MAS stated that Ang's trades allowed his parents to avoid an estimated S$54,900 in losses.

Ang admitted to breaching Singapore's insider trading laws under section 218(2)(a) of the Securities and Futures Act and paid the civil penalty without court proceedings. He also voluntarily agreed not to serve as a director or participate in the management of any company for two years.

The enforcement action followed a joint investigation by the Commercial Affairs Department of the Singapore Police Force and MAS, initiated after a referral from Singapore Exchange Regulation.