Criminal Prosecution Initiated in 1993

Criminal Prosecution Initiated – Persons Charged
No. Nature of Offence Offender(s) Facts of Case Sentence
1. Short selling Mustapha bin Ibrahim Mustapha was charged for short selling 10 lots of Union Paper Holdings Berhad (UPHB) shares. Mustapha was charged on 17 September 1993.
2. Yap Swee Yow Yap, a remisier, was charged on 21 September 1993 for short selling 20 lots of Union Paper Holdings Berhad shares. Yap was charged on 21 September 1993.
3. Koay Chee Hin Koay was charged on 28 September 1993 for short selling 6 lots of Union Paper Holdings Berhad shares. Koay was charged on 28 September 1993.
4. Ho Tong Leong Ho was charged on 28 September 1993 for short selling 2 lots of Union Paper Holdings Berhad shares. Ho was charged on 28 September 1993.
5. Wong Hua Seh Wong was charged on 30 September 1993 for short selling 3 lots of Union Paper Holdings Berhad shares. Wong was charged on 30 September 1993.
Outcome of Criminal Prosecution – Persons fined
No. Nature of Offence Offender(s) Facts of Case Sentence
1. Short selling Mustapha bin Ibrahim Mustapha was charged on 17 September 1993 for short selling 10 lots of Union Paper Holdings Berhad (UPHB) shares. Mustapha pleaded guilty and was convicted on 27 September 1993 of the offence. 

He was fined RM90,000 (in default 9 months imprisonment).

2. Yap Swee Yow Yap, a remisier, was charged on 21 September 1993 for short selling 20 lots of UPHB shares. Yap pleaded guilty and was convicted on 21 September 1993 of the offence. 

He was fined RM100,000 (in default 6 months imprisonment).

3. Koay Chee Hin Koay was charged on 28 September 1993 for short selling 6 lots of UPHB shares. Koay pleaded guilty and was convicted on 28 September 1993 of the offence. 

He was fined RM40,000 (in default 6 months imprisonment).

4. Ho Tong Leong Ho was charged on 28 September 1993 for short selling 2 lots of UPHB shares. Ho pleaded guilty and was convicted on 28 September 1993 of the offence. 

He was fined RM10,000 (in default 2 months imprisonment).

5. Wong Hua Seh Wong was charged on 30 September 1993 for short selling 3 lots of UPHB shares. Wong pleaded guilty and was convicted on 30 September 1993 of the offence. 

He was fined RM12,500 (in default 3 months imprisonment).