Court of Appeal upholds asset freeze order in S’pore penny stock collapse

PUTRAJAYA: The Court of Appeal has upheld an order to freeze the assets of six individuals and two companies with exposure to the three listed companies in Singapore, which shook the stock market there last year.

It allowed an order yesterday to freeze assets worth S$79.05mil (RM201.79mil) belonging to the six individuals and two companies who were purportedly involved in Singapore’s penny stock selldown last October.