What is the Goh Jin Hian trial about?

It centers on allegations that trades in 2018 were coordinated to lift New Silkroutes Group’s share price. Prosecutors cite WhatsApp chats and witness accounts. The case tests how Singapore applies rules against false trading and market manipulation, and what counts as acceptable liquidity support versus price‑setting behavior.

Why does this case matter to SGX investors?

It could shape how buybacks, market making, and closing‑auction activity should be run and documented. Clearer lines on intent and control would help investors assess governance quality. The outcome may influence surveillance focus on late‑day trades and how issuers design rule‑based trading plans to reduce legal risk.

What should boards and CFOs do now?

Review buyback and market‑making policies, segregate decision‑making from performance pressures, and use independent brokers under preset rules. Keep detailed execution logs and approvals, especially around the close. Move price‑sensitive instructions out of informal chats and into recorded channels, with compliance reviewing communications regularly.

What happens next in court?

Cross‑examination resumes on Feb 5. Expect questions on who instructed trades, whether orders targeted price levels, and how policies governed activity near the close. Observers will watch for documents on trading plans, broker mandates, and internal approvals, which could clarify how the court weighs intent and control.

Law and Government

Goh Jin Hian Trial February 05: False Trading Case Tests SGX Integrity

ByDanny Kontos February 5, 2026February 5, 2026

The Goh Jin Hian trial is a key moment for Singapore’s capital markets. Prosecutors allege a 2018 scheme to lift New Silkroutes Group’s share price using coordinated trades and chats. Cross‑examination continues on Feb 5, and investors are watching how the court weighs intent and control. This case may shape guidance on buybacks, market making, and closing trades for SGX counters. We explain what is at stake, why it matters, and what to track next.