Ms. Chua Yang Foo, a senior executive of manufacturing company Biosensors, has been fined $77,000 by the Monetary Authority of Singapore for insider trading. Chua admitted selling the company’s shares while in possession of material, non-public information that she obtained through her position in Biosensors, Straits Times reports.
Biosensors, which is listed on the Singapore Exchange Securities Trading (SGX-ST), announced on May 26, 2007 that it would post a a net loss of US$22.5 million for fiscal year 2006, causing the stock price to decline 8.4 %. Chua reportedly sold 100,000 Biosensors shares a month earlier on April 25 while in possession of non-public information relating to the 2006 financial results.
