Regulatory settlement with Lim Chin Chin

On 3 February 2012, the SC entered into a settlement with Lim Chin Chin in the sum of RM232,320 when she agreed without admission or denial of liability to settle a claim that the SC was proposing to institute against her for insider trading in the shares of Sin Chew Media Corporation Berhad (‘Sin Chew’) between 29 January 2007 and 30 January 2007, contrary to Section 89E(3)(a) of the Securities Industry Act 1983.

The settlement was reached following a letter of demand sent by the SC pursuant to its civil enforcement powers under the securities laws, where the sum Lim Chin Chin was required to disgorge was equivalent to three times the gains made by Ong Sew Teng and Chong Hiong Lim in connection with their trades in Sin Chew shares.