Former CEO of GS Holdings, firm behind foodcourts in S’pore, facing false trading charge

SINGAPORE – The former chief executive of public-listed GS Holdings, a firm behind several food courts and food centres in Singapore, is facing a charge over allegations of share price manipulation.

Pang Pok, 68, who stepped down as chief executive in 2024, is said to have conspired with two others - Chong Fatt, 60, and Koh Kim Seng, 62 - to create a misleading appearance of the price of GS Holdings, whose shares were traded on the Catalist board of the Singapore Exchange.

It was not stated in court documents what roles Chong and Koh had in GS Holdings.

According to court documents, the three men allegedly pushed up the price of the firm’s securities by using three trading accounts to place orders and execute trades for GS Holdings’ securities between January 2022 and October 2023.

Pang and Chong are also accused of perverting the course of justice by deleting text messages relating to the trades.

All three men did not enter a plea on Nov 4. Their cases were adjourned to Dec 2 for them to engage lawyers.

Pang’s bail amount was set at $120,000, while Chong’s was set at $40,000 and Koh’s at $30,000.

According to SGX filings, GS Holdings changed its name earlier in 2026 to Octopus (APAC) Holdings to represent its ambition to become a leading food and beverage distribution partner in the Asia-Pacific region.

Those convicted of committing false trading can be jailed for up to seven years, fined up to $250,000, or both.

If found guilty of perverting the course of justice, an individual can be jailed for up to seven years, fined, or both.

Nadine Chua is a correspondent covering crime and court at The Straits Times.