Kuala Lumpur, 31 July 2015
SC Charges Two Individuals for Insider Trading of Ranhill Power Berhad Shares
The Securities Commission Malaysia (SC) today charged two individuals with insider trading offences under section 89E(2)(a) of the Securities Industry Act 1983.
Amran bin Awaluddin, 46, a former director of Ranhill Berhad and Ranhill Power Bhd (formerly listed on Bursa Malaysia), was charged at the Kuala Lumpur Sessions Court for acquiring 309,100 units of Ranhill Power Berhad shares between 27 July 2007 and 11 September 2007 whilst in possession of material non-public information.
The SC alleged that the material non-public information referred to in the charges related to the proposed privatisation and de-listing of Ranhill Power Berhad which was announced on 11 September 2007.
Amran, who faces a total of 7 charges is said to have acquired the said shares through the account of Nooralina binti Mohd Shah. Nooralina, 40, faced seven charges for abetting Amran in the commission of the offences.
Amran and Nooralina claimed trial to the charges preferred. Sessions Court Judge Mat Ghani bin Abdullah set bail at RM 150,000 each for both Amran and Nooralina with one surety.
SECURITIES COMMISSION MALAYSIA