No. Offence Defendants Brief facts of the case
1. Use of manipulative and deceptive devices Causing wrongful loss to a listed corporation
  • Datin Chan Chui Mei
On 26 September 2016, the SC filed a civil suit against Datin Chan Chui Mei. The SC is seeking, among others:

  • A declaration that Datin Chan had contravened section 179 and 317A of the CMSA;
  • An order that Datin Chan makes restitution to persons aggrieved by the contravention;
  • An order that Datin Chan pays the SC the sum of RM11.54 million, to be held in trust for Stone Master Corporation Berhad;
  • An order that Datin Chan be barred from being a director of a public-listed company for a period of five years;
  • Civil penalty of RM1 million for the contravention;
  • Interest;
  • Costs.

On 27 March 2017, the SC obtained an order for interim injunction from the Kuala Lumpur High Court to restrain Datin Chan from dealing with the monies in her bank accounts up to the amount of RM 11.54 million until the disposal of the suit. The Kuala Lumpur High Court has also granted a stay of proceedings pending the disposal of Datin Chan’s appeal to the Court of Appeal against the decision of the High Court in dismissing her application to strike out the SC’s suit against her. The case management in Court of Appeal is set on 1 June 2017.

2. Insider trading
  • Koh Tee Jin
  • Koh Thiam Seong
  • Koh Hui Sim
On 13 March 2017, the SC filed a civil suit against Koh Tee Jin, Koh Thiam Seong and Koh Hui Sim. The SC is seeking, among others:

  • A declaration that Koh Tee Jin had communicated the material non-public information to Koh Thiam Seong and Koh Hui Sim who both had thereafter disposed Axis Incorporation Berhad (Axis) shares between 9 July 2008 and 30 July 2008;
  • A declaration that Koh Thiam Seong and Koh Hui Sim had engaged in insider trading in respect of Axis shares between 9 July 2008 and 30 July 2008;
  • An order that Koh Tee Jin, Koh Thiam Seong and Koh Hui Sim be barred from being a director of any public listed company for a period of five years;
  • A payment of the sum of RM3,546,477.00 from Koh Tee Jin which is equivalent to three times the amount of RM1,182,159 being the difference between the price at which the shares had been disposed by Koh Thiam Seong and Koh Hui Sim and the price at which the shares would have been likely to have been disposed at the time of the disposal, if the material non-public information had been generally available;
  • A payment of the sum of RM739,389 and RM2,807,088 from Koh Thiam Seong and Koh Hui Sim respectively which is equivalent to three times the difference between the price at which the shares had been disposed by Koh Thiam Seong and Koh Hui Sim and the price at which the shares would have been likely to have been disposed 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(3) of the CMSA by Koh Tee Jin;
  • Civil penalty of RM1,000,000 for the breach of section 188(2) of the CMSA by Koh Thiam Seong and Koh Hui Sim;
  • General and/ or aggravated and/ or exemplary damages;
  • Interest;
  • Costs.