Former Chief Executive Officer of Singapore-listed New Silkroutes Group Limited (NSG), Dr Goh Jin Hian, reportedly went on trial on Wednesday (4 February) for false trading offences.
Dr Goh claimed trial to all charges against him, along with former Chief Corporate Officer, Oo Cheong Kwan Kelvyn.
According to The Business Times, the prosecution presented WhatsApp messages that it said show discussions between the accused about strategies to drive up the firm’s share price to help secure financing for acquisitions and capital-raising activities.
The prosecution reportedly said the WhatsApp chats “speak volumes”.
If convicted of an offence under Section 197 of the SFA, offenders may be liable to an imprisonment term not exceeding seven years, or a fine not exceeding SGD 250,000, or both.
In September 2023, Dr Goh and Oo with two other men were each charged with 31 counts of Section 197(1)(b) of the SFA read with Section 109 of the Penal Code for engaging in a conspiracy to create a misleading appearance with respect to the price of NSG securities.
The other two were former Finance Director, Teo Thiam Chuan William, and Huang Yiwen, the sole director of GTC Group Pte Ltd (a commercial market maker engaged by NSG during the material time).
They allegedly placed orders and executed trades in NSG securities for a purpose of pushing up the price of NSG securities on 31 trading days between 26 February 2018 and 27 August 2018. The alleged price manipulative orders and trades include share buy-backs conducted through NSG’s corporate trading account.
Dr Goh faces a further eight counts of Section 197(1)(b) of the SFA for allegedly placing orders and executing trades in NSG securities through his personal trading account for a purpose of pushing up the price of NSG securities on eight trading days between 31 August 2018 and 4 December 2018.
Related: Former CEO of Singapore-listed New Silkroutes Group amongst three others facing 31 charges at court
Photo credit: Manifold Times
Published: 6 February, 2026
