Prior to announcing the acquisition of GreatSolutions, Tay Joo Heng bought 515,000 shares in its parent firm, GS Holdings.
MAS said Tay Joo Heng, sole shareholder and director of GSG Capital, admitted that he breached insider trading rules in relation to the purchase of shares in GS Holdings in November 2019. Tay has paid the civil penalty without court action. While in possession of material non-public information relating to GS Holdings’ intended sale of its loss-making unit GreatSolutions, Tay bought a total of 515,000 GS Holdings shares over a period of 13 days from 4 Oct to 18 Nov 2019, according to MAS.
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