, Columnist
Not Another Singapore Sling
The idea that the city-state would become Asia's capital-market gateway is already past its sell-by date.
This article is for subscribers only.
Even before Singapore could move on from the confidence-busting penny stocks crash of 2013, here comes another potential scandal. Exasperated investors will naturally wonder why the city-state's reputation for being largely corruption free doesn't extend to its securities marketplace.
Hints of fresh trouble came Friday after the Business Times reported raids on the offices of Maybank Kim Eng Securities, DBS Vickers Securities, OCBC Securities and Phillip Securities. The Monetary Authority of Singapore confirmed in a statement that it had indeed, together with the white-collar crimes cell, obtained ``documents and items.'' The newspaper report said people taken for questioning were believed to be remisiers, or commission agents.