THE Monetary Authority of Singapore (MAS) on Tuesday said it has imposed a civil penalty of S$336,000 on Singaporean Raphael Tham Wai Mun for insider trading in the shares of Auhua Clean Energy PLC (ACE), which is listed on the London Stock Exchange. Tham who was the non-executive vice-chairman of ACE, has admitted to contravening the Securities and Futures Act, and has paid MAS the penalty without court action. The civil penalty (see amendment note) represented 2.5 times the losses that Tham had avoided from the sale of his shares. He has also given MAS a voluntary undertaking not to be a company director, or to be involved in the management of a company for two years with effect from June 5, 2019. Tham is believed to have worked at EDB (Economic Development Board) for several years, and was also the former executive director of mainboard-listed USP Group, which has been placed on the Singapore Exchange's watch list.