MAS fines trader $350k for false trading and unauthorized activities

Gui manipulated the prices of shares on 554 occasions for HHL and 56 occasions for HGC, MAS, and Singapore Police Force noted.

The Monetary Authority of Singapore (MAS) has imposed a civil penalty of $350,000 on Gui Boon Sui for engaging in false trading and unauthorised trading activities.

In a statement, MAS and Singapore Police Force said Gui contravened Sections 197(1)(b) and 201(b) of the Securities and Futures Act (SFA) by artificially inflating the closing prices of shares in Hiap Hoe Limited (HHL) and Hotel Grand Central Limited (HGC).

Between December 2018 and August 2022, Gui manipulated the prices of these shares on 554 occasions for HHL and 56 occasions for HGC, they noted.

Gui admitted to the violations and agreed to pay the civil penalty without court proceedings. Additionally, he undertook not to act as a company director or participate in the management of any company for the next two years.

Penalties can be as high as three times the profits gained or losses avoided, with minimum thresholds of $50,000 for individuals and $100,000 for corporations.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia

Top News

Specialty chemicals manufacturing facility on Jurong Island for sale

The fully equipped facility is clean and ready to be recommissioned.

Commercial Property

11 hours ago

September surge masks looming export slowdown to 6% in 2027

Maybank raised its 2026 forecast to 27% from 18% in the same report.Non-oil domestic exports (NODX) growth could slow to 6% in 2027 as supply chain pressures and higher financing costs weigh on shipment momentum, Maybank Research Pte Ltd said.

Economy

15 hours ago

Nearly half of workers report six or more unpaid hours a week, report says