HONG KONG, Oct 28 — The Singapore-listed stocks whose trading patterns are under scrutiny by the city’s central bank and stock market operator after wild swings in the shares earlier this month are connected through a small group of powerful Malaysian businessmen.

Shares of gold miner LionGold Corp Ltd, natural resources investment firm Blumont Group Ltd and Asiasons Capital Ltd, an alternative Southeast Asian investment and management firm, were suspended on October 4 in Singapore.

The SGX ordered the suspension after the stocks plummeted and lost as much as S$5 billion (RM12.7 billion) in market value in less than an hour of trading.

The SGX also queried investment firms Innopac Holdings Ltd and ISR Capital Ltd after their stocks also tumbled on October 4.

All shares have resumed trading, falling back to penny stock status from historically high valuations. The Monetary Authority of Singapore said on Thursday that it was conducting an extensive review of the situation.

Below is a list of key shareholders in the companies, based on public filings.

LionGold

Malaysian businessman Wira Dani Daim holds directorships and shares in LionGold, ISR Capital and Magnus Energy Group, according to the companies’ most recent annual reports.

Daim is a non-executive director of LionGold, and also a major shareholder with control of 4.62 per cent of the shares according to the latest stock market filing. He has recently reduced the size of his holdings, having had a 6.35 per cent stake earlier this year according to the annual report.

Daim is the chairman and an executive director of ISR Capital, as well as a major shareholder, who had control of 17.82 per cent of the shares at the time of the company’s most recent annual report. Daim does not have an official role at Magnus Energy, but is the controlling shareholder with 16.5 per cent of the shares. Magnus, in turn, had a 1.99 per cent stake in LionGold at the time of its most recent annual report.

Daim’s father, Daim Zainuddin, is Malaysia’s former finance minister.

Another key individual associated with LionGold is John Soh Chee Wen. Soh was a director and managing director of one of LionGold’s shareholders, investment firm Innopac Holdings Ltd, between 1994 and 2001, according to Singapore’s Accounting and Corporate Regulatory Authority.

In 2002, he was arrested and charged by the Malaysian Securities Commission for submitting false information related to a company called Omega Securities. He pleaded guilty in 2007 and was convicted, preventing him from serving as a company director for five years.

LionGold had a 3.44 per cent stake in Innopac Holdings, and Innopac, through its Jadensworth Holdings subsidiary, had a 3.46 per cent stake in LionGold at the time of their most recent annual reports.

Asiasons

LionGold’s biggest shareholder is the Singapore-listed investment firm Asiasons, which held 8.9 per cent of LionGold at the time of its most recent annual report.

Asiasons was co-founded and is chaired by Mohammad Azlan Hashim, who is also a director of Malaysian sovereign wealth fund Khazanah. Mohammad Azlan is also the former executive chairman of the Kuala Lumpur Stock Exchange.

Mohammad Azlan and Jared Lim Chih Li controlled Asiasons as well as 32.54 per cent of investment firm ISR Capital at the time of the companies’ most recent annual reports.

Blumont

Blumont, the third stock that was halted, shares an independent director — Lynne Ng Su Ling — with LionGold.

Blumont also shares independent director, Goh Boon Kok, with Magnus Energy; and independent director, Calvin Lim Huan Kim, with IPCO International, which had a 9.71 per cent interest in Blumont, according to its most recent annual filing.

Blumont had an 8.67 per cent stake in Innopac, according to its most recent filing. — Reuters