Kuala Lumpur, 5 February 2015
SC charges two more individuals for insider trading of TH Group Berhad shares
Following the charges preferred against five individuals on 29 January 2015, the Securities Commission Malaysia (SC) today charged two more individuals for insider trading of TH Group Berhad (TH Group) shares.
Ang Pok Hong, 50, was charged at the Kuala Lumpur Sessions Court for acquiring 204,000 units of TH Group shares between 22 September 2008 and 25 September 2008 whilst in possession of material non-public information.
The SC alleged that the material non-public information referred to in all the charges related to the proposed privatisation of TH Group Berhad via a Selective Capital Repayment exercise announced on 29 September 2008.
Ang, who faces a total of 4 charges, is said to have acquired the TH Group shares through her own account and also the account of her niece, Wendy Wong Soon Soon. Wong, 39, was charged for abetting Ang by allowing her trading account to be used by Ang for the purpose of acquiring the said shares.
Ang and Wong claimed trial to the charge preferred. Sessions Court Judge Tuan Mat Ghani Abdullah set bail at RM300,000 for Ang and RM100,000 for Wong respectively. The Sessions Court Judge fixed 3 March 2015 as a mention date for the cases and had also set for trial to begin on 8 June 2015.
Insider trading is an offence under s188(2) of the Capital Markets and Services Act 2007, punishable under s188(4) with imprisonment term not exceeding ten years and a fine of not less than RM1 million.
SECURITIES COMMISSION MALAYSIA