Details of Civil Action Taken in 2015

No. Offence Defendants Brief facts of the case
1. 

 

  • Insider trading[s.89E(2) SIA 1983]
  • Teng Choon Kwang
  • Tan Boon Hwa

 

On 30 December 2015, the SC filed a civil suit against Teng Choon Kwang and Tan Boon Hwa. The SC is seeking, among others:

  • A declaration that Teng Choon Kwang and Tan Boon Hwa had engaged in insider trading in respect of Inti Universal Holdings Berhad shares between 13 September 2007 and 18 September 2007;
  • A payment of the sum of RM 293,502.00 which is equivalent to three times the amount of RM97,834.00 being the difference between the price at which the shares had been acquired by Teng Choon Kwang and Tan Boon Hwa and the price at which the shares would have been likely to have been acquired at the time of the acquisition, if the material non-public information had been generally available;
  • Civil penalty of RM1,000,000 for the breach of section 89E(2) of the SIA;
  • An order that Teng Choon Kwang and Tan Boon Hwa be barred from being a director of any public listed company for a period of 5 years;
  • Interest;
  • Costs.
2. 

 

  • Insider trading
    [s. 188(2)
    CMSA 2007]
  • Chan Soon Huat

 

On 27 May 2015, the SC filed a civil suit against Chan Soon Huat. The SC is seeking, among others:

  • A declaration that Chan Soon Huat had engaged in insider trading in respect of WCT Berhad securities between 30 December 2008 and 5 January 2009;
  • A payment of the sum of RM 3,238,760.55 which is equivalent to three times the amount of RM1,079,586.85 being the difference between the price at which the securities had been disposed of by Chan Soon Huat and the price at which the securities would have been likely to have been disposed of at the time of the disposal, if the material non-public information had been generally available;
  • Civil penalty of RM1,000,000 for the breach of section 188(2) of the CMSA;
  • An order that Chan Soon Huat be barred from being a director of any public listed company for a period of 5 years;
  • Interest;
  • Costs.

 

  • Insider trading
    [s. 188(2)
    & s .188(3) CMSA 2007]
  • Goh Chin Liong
  • Leong Ah Chai

 

On 26 May 2015, the SC filed a civil suit against Goh Chin Liong and Leong Ah Chai. The SC is seeking, among others:

  • A declaration that Goh Ching Liong had communicated the material non-public information to Leong Ah Chai who had thereafter disposed of the said WCT Berhad securities between 2 January 2009 and 5 January 2009;
  • A declaration that Leong Ah Chai had engaged in insider trading in respect of WCT Berhad securities between 2 January 2009 and 5 January 2009;
  • A payment of the sum of RM2,542,184.70 from each of the defendants, which is equivalent to three times the amount of RM847,394.90 being the difference between the price at which the securities had been disposed of by Leong Ah Chai and the price at which the securities would have been likely to have been disposed of at the time of the disposal, if the material non-public information had been generally available;
  • Civil penalty of RM1,000,000 against Goh Chin Liong for the breach of section 188(3) of the CMSA;
  • Civil penalty of RM1,000,000 against Leong Ah Chai for the breach of section 188(2) of the CMSA;
  • An order that each of the defendants be barred from being a director of any public listed company for a period of 5 years;
  • Interest;
  • Costs.