Black Thursday
Unknown to many, blue-chip darling Pan-Electric Industries has been borrowing heavily from banks. The high volume of Pan-El shares trading catches the attention of journalist, Conrad Raj, who senses something is up.
Black Thursday - The Pan-El Saga
Unknown to many, blue-chip darling Pan-Electric Industries has been borrowing heavily from banks. The high volume of Pan-El shares trading catches the attention of journalist, Conrad Raj, who senses something is up.
Black Thursday
On 2 Dec 1985, the Singapore Stock Exchange shut for three days. Overnight, the shares of Pan-Electric Industries were reduced to nothing, leading to the downfall of many brokerage firms and investors.
But weeks before, alarm bells were already ringing for financial journalist, Conrad Raj. As news of Pan-El’s burgeoning debt come to light, Glenn Knight and the newly established Commercial Affairs Investigation Department (CAID) are tasked to investigate.Â
At the center of Pan El’s collapse are three suspects: Former Pan-El director Peter Tham, Chief Accountant Tan Kok Liang and prominent businessman Tan Koon Swan. Who caused Singapore’s first and only stock exchange meltdown?Â
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