Administrative Actions in 2022

No.

Nature of Misconduct

Parties Involved

Brief description of misconduct

Action Taken

Date of Action

1.
  • Breach of Section 356(1)(a) of the Capital Markets and Services Act 2007 read together with Paragraph 4.17, Section B, Part 1 of the Guidelines on Unlisted Capital Market Products under the Lodge and Launch Framework
UOB Asset Management (Malaysia) Berhad (“UOBAM”)

Delay of one (1) business day in the submission of the monthly investment returns for seven (7) wholesale funds to the SC.

Penalty of RM7,000.

26 September 2022

2.
  • Breach of:
    1. Section 61(4) of the CMSA, Paragraph 7.03(1) of the SC's Licensing Handbook and Section 65(1)(g)(v) of the CMSA (“Breach 1”);

    2. Paragraph 5.03 of the Guidelines on Advertising for Capital Market Products and Related Services ("Advertising Guidelines") (“Breach 2”); and

    3. Paragraph 5.07 of the Advertising Guidelines (“Breach 3”),
      read together with Section 356(1)(a) of the CMSA; and

  • Failure to maintain fitness and properness as a Capital Markets Services Representative's Licence (“CMSRL”) holder for the regulated activity of fund management which warrants a revocation or suspension of licence under:

    1. Section 72(2)(2)(b)(i) of the CMSA read together with Section 65(1)(b) of the CMSA; and

    2. Section 72(2)(2)(b)(iv) of the CMSA read together with Paragraph 7.03(1) of the SC's Licensing Handbook and Paragraph 7.03(3) of the SC's Licensing Handbook

 

Dato' Dr Mohd Nazri Khan Bin Adam (“DDNK”)

Breach 1
DDNK’s remarks and conduct on several occasions had resulted or contributed to the misleading impression that an unregistered individual and/or agency had represented, or had an arrangement with IPAM, as a marketing representative that undertakes marketing and referral activities, when in actual fact, the individual and the agency were not registered with IPAM. As such, DDNK has failed to comply with SC's licensing condition which requires him to remain fit and proper at all times, as he has conducted himself in such a way that casts doubt on his competence and soundness of judgment.

Breach 2
DDNK had failed to ensure that advertisements made by him or IPAM did not contain any misleading messaging.

Breach 3
DDNK had failed to ensure that information in advertisements is accurate.

  • Suspension of CMSRL for 6 months pursuant to Section 72(3) of the CMSA;

  • Reprimand;

  • Penalty of a total of RM577,500; and

  • Direction to DDNK to attend a course(s) relating to conduct professionalism, ethics or integrity to capital market activities, as determined by the Board of IPAM where such course(s) provide/result in:

    1. an extra 20 CPE points (in addition to the prescribed/requisite CPE points to be collected), or

    2. equivalent to 2 days of training,
      within 6 months of the date of suspension ('Mandatory Training',), or where DDNK ceases to be a CMSRL holder with the SC, from such date of cessation.

6 October 2022

On 14 October 2022, DDNK filed a review application with the SC against the suspension and quantum of penalty imposed.

The review application was dismissed by the SC on 22 December 2022.  

3.

Breach of:

  1. Paragraph 7.04 of the Guidelines for Marketing Representative (“MR Guidelines”) (“Breach 1”);

  2. Section 61(4) of the CMSA read together with Paragraph 7.02(1) of the SC’s Licensing Handbook and Section 64(1)(h)(v) of the CMSA (“Breach 2”) ;

  3. Section 61(4) of the CMSA read together with Paragraph 7.02(12)(a) of the SC’s Licensing Handbook (“Breach 3”);

  4. Section 61(4) of the CMSA read together with Paragraph 7.02(1) of the SC’s Licensing Handbook and Section 64(1)(l)(ii) of the CMSA (“Breach 4”); and

  5. Section 122(1) of the CMSA (“Breach 5”), read together with Section 356(1)(a) of the CMSA.

Inter-Pacific Asset Management Sdn. Bhd. (“IPAM”)

Breach 1
IPAM had no proper policies and controls established to monitor referral and marketing activities vis a vis compliance with the MR Guidelines. This  resulted/contributed to unregistered individual and/or agency structure undertaking referral and marketing activities on IPAM’s private mandate on several occasions in contravention of the aforesaid guidelines.

Breach 2
IPAM has failed to comply with the  condition on being fit and proper at all times as IPAM, through Dato’ Dr Nazri Khan (“DDNK”), its Chief Executive Officer (at the material time) has conducted himself in such a way to cast doubt on his competence and soundness of judgment.

Breach 3
IPAM has failed to ensure DDNK, as its licensed representative was adequately supervised which has resulted/enabled DDNK to conduct himself  in such a manner in breach of the relevant SC’s law and requirement.

Breach 4 :
IPAM’s employee had misused SC’s name and misled the audience for the benefit of IPAM in one of IPAM’s virtual training sessions. As such, IPAM has failed to comply with the condition of its licence to remain fit and proper at all times as the action of IPAM’s employee reflect discredit on IPAM’s manner of conducting its business.

Breach 5 :
IPAM has failed in ensuring proper custodial arrangement is in place to safeguard its private mandate clients’ assets in respect of investment in foreign jurisdiction as required under the securities laws.

  1. Reprimand;

  2. Penalty of a total of RM695,000; and

  3. Directive for IPAM to:

    1. Enhance its controls, and policies and procedures through the establishment of proper monitoring/surveillance measures to ensure that only registered Marketing Representatives are marketing IPAM’s products/services; and

    2. Appoint an external auditor upon completing the transfer of all clients’ assets to the custodianship of Maybank, to assess and confirm that all its clients’ assets are correctly accounted for, and the custodian arrangements comply with the SC regulatory requirements. IPAM shall submit the auditor’s report to the SC.

6 October 2022

On 14 October 2022, IPAM filed a review application to the SC to withhold any public announcement on the reprimand and against the quantum of penalty imposed.

The review application was dismissed by the SC on 22 December 2022.

4. Breach of subsection 218(2) of the Capital Markets and Services Act 2007 (“CMSA”) read together with subparagraph 4.01(a) of the Rules on Take-overs, Mergers and Compulsory Acquisitions (“Rules”)
  • Ang Hwei Chyn (“Ang HC”)
  • Ang Kim Cheng @ Ang Teng Kok
  • Cheong Chiew Yoon
  • Ang Ai Way
  • Goh Chong Ee
  • Angson Sdn Bhd
  • Interasia Sdn Bhd (“Interasia
    (collectively known as “Ang Family”)
  • Goh Ah Keen @ Goh Chok Sai
  • Jumboritz Sdn Bhd (“Jumboritz”)

(collectively, persons acting in concert Group, “PAC Group”)

The PAC Group are persons acting in concert under subsection 216(2) of the CMSA in relation to Multi-Usage Holdings Berhad (“MUHB”)  pursuant to the financial assistance provided by the Ang Family and Goh Ah Keen to Jumboritz for the subscription of MUHB shares under MUHB’s private placement exercise.

Failure to undertake a mandatory take-over offer on MUHB pursuant to the transfer of 27.17% equity interest in MUHB from Topazvest Temasek Sdn Bhd to Interasia on 30 April 2018 which increased the collective shareholdings of the PAC Group to above 33% in MUHB.
  • Reprimand;
  • Penalty of RM500,000 against the PAC Group collectively; and
  • Directive to the PAC Group to reduce their collective holdings in MUHB to not more than 33% within one (1) year from the date of the sanction (“Reduction”). Pending the Reduction, the PAC Group is only allowed to exercise up to 33% of the voting rights in MUHB. In this regard, the PAC Group must ensure that:

    (a)   If the Reduction is by way of disposal, the disposal must  not be to any persons acting in concert, as defined under subsections 216(2) and (3) of the CMSA, with the PAC Group or any of them; and

    (b) The SC be notified upon completion of the Reduction.
24 November 2022
5. Non-compliances of paragraphs 3.01 and 3.05 of the Rules on Take-overs, Mergers and Compulsory Acquisitions (“Rules”) and section 221 of the Capital Markets and Services Act 2007 (“CMSA”) in relation to the conduct of Mercury Securities Sdn Bhd (“Mercury Securities”) as the principal adviser for the conditional voluntary take-over offer by AT Engineering Solution Sdn Bhd (“Offeror”), a wholly-owned subsidiary of AT Systematization Berhad (“Ultimate Offeror”), on Asdion Berhad (“Offeree”) (“Offer”) Mercury Securities Sdn Bhd
  1. As the principal adviser for the Offer, Mercury Securities had not demonstrated that it had used all reasonable effort to ensure that the Offeror and the Ultimate Offeror were provided with appropriate advice to comply with the Rules and Malaysian Code on Take-overs and Mergers 2016 (“Code”), particularly in relation to –

    (i) ensuring that the Offeror was aware that the Offer must be made to all shareholders and not limited to those shares in issue as at the date of the Notice, where failure to do so was a non-compliance with General Principle 1 of the Code; and

    (ii) ensuring that the Offeror has sufficient financial ability to implement the Offer in full (for possible issuance of new shares) prior to the launch of the Offer, where failure to do so was a non-compliance with General Principle 3 of the Code; and

  2. Mercury Securities had submitted a declaration pursuant to subparagraph 3(f) of Appendix 3 of the Rules in its initial application letter dated 15 March 2022 to the SC which contained a false or misleading statement by confirming that no conflict of interest situation exists or is likely to exists in relation to its role as principal adviser for the Offer, when in fact it was at the material time acting for both the Offeror (as the principal adviser for the Offer) and the Offeree (as the principal adviser and placement agent for the Offeree’s proposed placement of shares).
Reprimand 17 November 2022
6. Breach the condition of Capital Markets Services Licence (“CMSL”) as required under Paragraphs 7.02(2) and 4.04(2) of the SC’s Licensing Handbook which warrant a revocation of licence under Section 72(2)(a) (iii) of the CMSA LT International Futures (M) Sdn Bhd (Capital Markets Services Licence holder for the regulated activity of dealing in derivatives) Contravened the condition of its Capital Markets Services Licence for failure to meet the minimum financial threshold for its Adjusted Net Capital (“ANC”) being the higher of RM500,000 or 10% of the aggregated margins required. Revocation of licence 22 September 2022
7. Two (2) breaches of Section 4(1)(b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (“AMLA”) read together with Section 354(1) of the CMSA Tan Yu Sing Tan Yu Sing had received proceeds of an unlawful activity being the sum of RM8,000.00
  1. Reprimand; and
  2. Penalty of RM225,000.00 for the 2 breaches.
22 August 2022
8. One (1) breach of Section 4(1)(b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (“AMLA”) read together with Section 354(1) of the CMSA Yong Siok Lung Yong Siok Lung had received proceeds of an unlawful activity being the sum of RM2,711.28
  1. Reprimand; and
  2. Penalty of RM225,000.00 for the breach.
22 August 2022
9. Breach of Section 354(1)(a) of the CMSA read together with Section 4(1)(b) of the AMLA Muhammad Bin Mohd Yunos (“Muhammad”) Muhammad had received proceeds of an unlawful activity being the sum of RM1,500.00.
  1. Reprimand for the breach; and
  2. Penalty of RM225,000 for the breach.
3 June 2022
10. Breach of Section 354(1)(a) of the CMSA read together with Section 4(1)(b) of the AMLA Saluna Binti Tusok @ Salina Bt Abdullah (“Saluna”) Saluna had received proceeds of an unlawful activity being the sum of RM1,500.00.
  1. Reprimand for the breach; and
  2. Penalty of RM225,000.00 for the breach.
3 June 2022
11. Breach of Section 354(1)(a) of the CMSA read together with Section 4(1)(b) of the AMLA Muhammad Amirul Hakim Bin Mohd Nizam (“Amirul”) Amirul had received proceeds of an unlawful activity being the sum of RM3,000.00.
  1. Reprimand for the breach; and
  2. Penalty of RM225,000.00 for the breach.
3 June 2022
12. Two (2) breaches of Section 354(1)(a) of the CMSA read together with Section 4(1)(b) of the AMLA Choy Mun Kin (“Choy”) Choy had received proceeds of an unlawful activity being the sum of RM1,650.00.
  1. Reprimand for each breach; and
  2. Penalty of RM225,000.00 for the 2 breaches.
2 June 2022
13. Breach of Section 354(1)(a) of the CMSA read together with Section 4(1)(b) of the AMLA Ahmad Firdaus Bin Mohamad (“Firdaus”) Firdaus had received proceeds of an unlawful activity being the sum of RM350.00.
  1. Reprimand for the breach; and
  2. Penalty of RM225,000.00 for the breach.
31 May 2022
14.

Two (2) breaches of Section 354(1)(b)(iii) of the CMSA read together with:

  • Paragraph 3.3.7(a) of the Federation of Investment Managers Malaysia’s Code of Ethics and Rules of Professional Conduct (Unit Trust Funds) as at 22 January 2013 (“Code”); and
  • Paragraph 3.1.12(d) of the Code.

 

 

 Harani Kamarudin  (“Harani”)  

As a previous Unit Trust Consultant, Harani had:-

  • Entered into written understanding or arrangement with an investor for investments decisions to be made on his behalf; and
  • Failed to explain the nature and characteristics of the unit trust fund marketed and gave direct guarantee that a specific result will be achieved.

Harani’s breaches contain elements of fraud and dishonesty causing the investor to suffer losses of an amount up to RM1.32million. 

 
  1. Reprimand for each breach;
  2. Penalty of RM2,000,000.00
 24 May 2022
15. Two (2) breaches of Section 354(1)(a) of the CMSA read together with Section 4(1)(b) of the AMLA Mohammed Shukri Bin Yaacob (“Shukri”) Shukri had received proceeds of an unlawful activity being the sum of RM3,350.00
  1. Reprimand for each breach; and
  2. Penalty of RM225,000.00 for the two (2) breaches. 
24 May 2022
16.

Three (3) breaches of Section 354(1)(a) of the CMSA read together with Section 4(1)(b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (“AMLA”)

Cheah Pui San (“Cheah”)

 

Cheah had received proceeds of an unlawful activity being the sum of RM8,950.00
  1. Reprimand; and
    Penalty of
  2. RM225,000.00 for the 3 breaches.
23 May 2022
17.

Nine (9) breaches of Section 354(1)(a) of the CMSA read together with Section 4(1)(b) of the AMLA

Haree Narayanan A/L Money (“Haree”) Haree had had received proceeds of an unlawful activity being the sum of RM15,748.62
  1. Reprimand for each breach; and
  2. Penalty of RM225,000.00 for the 9 breaches
23 May 2022
18.

Three (3) breaches of Section 354(1)(a) of the CMSA read together with Section 4(1)(b) of the AMLA

Abd Aziz Bahari (“Aziz”) Aziz had had received proceeds of an unlawful activity being the sum of RM2,650.00.
  1.  Reprimand for each breach; and
  2. Penalty of RM225,000.00 for the 3 breaches.
23 May 2022
19.

Breach of Section 25(4) of the Securities Industry (Central Depositories) Act 1991 (“SICDA”) read together with Section 354(1)(a) of the CMSA

Coco Li Heng

Based on the available evidence, Coco Li Heng was found to be the beneficial owner of the deposited securities in the Central Depository System account in the name of David Lim Chee Siang.

  1. Reprimand
  2. Penalty of RM27,000
18 May 2022
 20.  Breach of Section 29A of the Securities Industry (Central Depositories) Act 1991 (“SICDA”) read together with Section 354(1)(a) of the CMSA David Lim Chee Siang Based on the available evidence, David Lim Chee Siang had effected the disposal of shares in his Central Depository System account when he was not the beneficial owner of the said shares.  
  1. Reprimand
  2. Penalty of RM27,000
18 May 2022
21.

Six (6) breaches of section 354(1)(a) of the Capital Markets and Services Act 2007 (“CMSA”) read together with sections 369(b)(B) of the CMSA (“Breaches”)

Cheah Yew Keat

As the Group Managing Director of DIS Technology Holdings Berhad (“DISTB”), Cheah Yew Keat had knowingly caused the furnishing of six (6) financial statements of DISTB that were false to the stock exchange, Bursa Malaysia, relating to the affairs of DISTB.

Reprimand for each breach; and

Penalty of RM2,730,000 which consists of RM455,000 for each breach.

3 March 2022

Update:
On 14 March 2022, Cheah Yew Keat filed a review application to the SC against the quantum of penalty imposed. The review application was dismissed by the SC on 29 June 2022.
22. Breach of Section 356(1)(a) of the Capital Markets and Services Act 2007  read together with Paragraph 4.17, Section B, Part 1 of the Guidelines on Unlisted Capital Market Products under the Lodge and Launch Framework

Kenanga Investors Berhad (“KIB”) Delay of one (1) business day in the submission of the annual report for the financial year end 30 September 2021 to the SC for three (3) wholesale funds.  Penalty of RM3,000 3 March 2022
23.  

Three (3) breaches of Section 354(1) of the CMSA read together with:-

  • Paragraph 3.3.5 of the Federation of Investment Managers Malaysia’s Code of Ethics and Rules of Professional Conduct (Unit Trust Funds) as at 22 January 2013 (“Code”);
  • Section 92A(2)(a) of the CMSA and Paragraph 3.1.3(a) of the Code; and 
  • Section 58(1) of the CMSA..
 Nabihah Binti Shafiee (“Nabihah”)  

As a Unit Trust Consultant of Affin Hwang Asset Management Berhad, Nabihah had:-

  • accepted cash and had monies credited into her personal bank accounts from investors for purposes of investment in unit trusts;
  • provided statements to individuals which she knew contained false or misleading information; and
  • carried on a business in the regulated activity of dealing in private retirement schemes when she was not a registered person.
 
  1. Reprimand for each breach;
  2. Requirement to make restitution to investors, amounting to RM52,618.00; and
  3. Penalty of RM472,500.00.
3 March 2022
24.

Breach of Section 354(1)(a) of the Capital Markets and Services Act 2007 (“CMSA”) read together with Section 369(b)(B) of the CMSA

Breach of Section 354(1)(a) of the CMSA read together Paragraph 9.35A(1)(b) of the Main Market Listing Requirements

Prolexus Berhad (“Prolexus”) Knowingly causing the furnishing of information contained in the announcement made by Prolexus to Bursa Malaysia Securities Berhad (“Bursa”) on 6 October 2020 (“Announcement”) that is misleading to Bursa. Reprimand for each breach

27 January 2022

On 25 February 2022, Prolexus had applied to the SC for a review of its decision to sanction Prolexus.

The review application was dismissed by the SC on 2 September 2022.

25.

Breach of Section 354(1)(a) of the CMSA read together with Sections 369(b)(B) and 367(1) of the CMSA

Choong Chee Mun, Executive Director and Chief Financial Officer of Prolexus

Knowingly causing the furnishing of information contained in the Announcement that is misleading to Bursa.

  1. Reprimand; and
  2. Penalty of RM280,000.00

27 January 2022

On 25 February 2022, Choong Chee Mun had applied to the SC for a review of its decision to sanction him and to consider reversing its decision.

The review application was dismissed by the SC on 2 September 2022.

Choong Chee Mun has fully settled the penalty of RM280,000.00 imposed by the SC.

26.

Breach of Section 354(1)(a) of the CMSA read together with Sections 369(b)(B) and 367(1) of the CMSA 

Khadmudin Bin Mohamed Rafik, Independent Non-Executive Chairman of Prolexus

Knowingly causing the furnishing of information contained in the Announcement that is misleading to Bursa.

  1. Reprimand; and 
  2. Penalty of RM224,000.00

 

27 January 2022

On 25 February 2022, Khadmudin Bin Mohamed Rafik had applied to the SC for a review of its decision to sanction him and to consider reversing its decision.

On 2 September 2022, the SC affirmed its decision in respect of the findings of breach and the reprimand imposed, but reduced the quantum of penalty from RM224,000.00 to RM140,000.00.

27.

Breach of Section 354(1)(a) of the CMSA read together with Sections 369(b)(B) and 367(1) of the CMSA 

Lau Mong Ying, Managing Director of Prolexus

Knowingly causing the furnishing of information contained in the Announcement that is misleading to Bursa.

  1. Reprimand; and 
  2. Penalty of RM224,000.00

 

27 January 2022

On 25 February 2022, Lau Mong Ying had applied to the SC for a review of its decision to sanction him and to consider a lighter punishment towards him.

The review application was dismissed by the SC on 2 September 2022.

Lau Mong Ying has fully settled the penalty of RM224,000.00 imposed by the SC.

28.

Breach of Section 354(1)(a) of the CMSA read together with Sections 369(b)(B) and 367(1) of the CMSA 

Lau Mong Fah, Non-Independent Non-Executive Director of Prolexus

Knowingly causing the furnishing of information contained in the Announcement that is misleading to Bursa.

  1. Reprimand; and 
  2. Penalty of RM224,000.00

 

27 January 2022

On 25 February 2022, Lau Mong Fah had applied to the SC for a review of its decision to sanction him and to consider reversing its decision.

On 2 September 2022, the SC affirmed its decision in respect of the findings of breach and the reprimand imposed, but reduced the quantum of penalty from RM224,000.00 to RM140,000.00.

Lau Mong Fah has fully settled the penalty of RM140,000.00 imposed by the SC.

29.

Breach of Section 354(1)(a) of the CMSA read together with Sections 369(b)(B) and 367(1) of the CMSA 

Boo Chin Liong, Independent Non-Executive Director of Prolexus

Knowingly causing the furnishing of information contained in the Announcement that is misleading to Bursa.

 

  1. Reprimand; and 
  2. Penalty of RM224,000.00

27 January 2022

On 25 February 2022, Prolexus had applied to the SC for a review of its decision to sanction him and to consider reversing its decision.

On 2 September 2022, the SC affirmed its decision in respect of the findings of breach and the reprimand imposed, but reduced the quantum of penalty from RM224,000.00 to RM140,000.00.

Boo Chin Liong has fully settled the penalty of RM140,000.00 imposed by the SC.

30.
Breach of Section 354(1)(a) of the CMSA read together with Sections 369(b)(B) and 367(1) of the CMSA
Chin Chew Mun, Independent Non-Executive Director of Prolexus

Knowingly causing the furnishing of information contained in the Announcement that is misleading to Bursa.

 

  1. Reprimand; and 
  2. Penalty of RM224,000.00

27 January 2022

On 25 February 2022, Chin Chew Mun had applied to the SC for a review of its decision to sanction him and to consider reversing its decision.

On 2 September 2022, the SC affirmed its decision in respect of the findings of breach and the reprimand imposed, but reduced the quantum of penalty from RM224,000.00 to RM140,000.00.

Chin Chew Mun has fully settled the penalty of RM140,000.00 imposed by the SC.

31.

Breach of Section 354(1)(a) of the CMSA read together with Sections 369(b)(B) and 367(1) of the CMSA

W Norma Binti W Daud, Independent Non-Executive Director of Prolexus Knowingly causing the furnishing of information contained in the Announcement that is misleading to Bursa.
  1. Reprimand; and 
  2. Penalty of RM224,000.00

 

27 January 2022

On 25 February 2022, W Norma Binti W Daud had applied to the SC for a review of its decision to sanction her and to consider reversing its decision.

On 2 September 2022, the SC affirmed its decision in respect of the findings of breach and the reprimand imposed, but reduced the quantum of penalty from RM224,000.00 to RM140,000.00.

32. Breach of Section 354(1)(a) of the CMSA read together with Sections 369(b)(B) and 367(1) of the CMSA

Ahmad Mustapha Bin Ghazali, Former Executive Chairman of Prolexus Knowingly causing the furnishing of information contained in the Announcement that is misleading to Bursa.
  1. Reprimand; and 
  2. Penalty of RM224,000.00

27 January 2022

On 23 February 2022, Ahmad Mustapha Bin Ghazali had applied to the SC for a review of its decision to sanction him and to consider reversing its decision.

The review application was dismissed by the SC on 2 September 2022.

Ahmad Mustapha Bin Ghazali has  fully settled the penalty of RM224,000.00 imposed by the SC.

33. Breach of Section 354(1)(a) of the CMSA read together with Sections 369(b)(B) and 367(1) of the CMSA

Lim Yong Lee, Former Independent Non-Executive Director of Prolexus Knowingly causing the furnishing of information contained in the Announcement that is misleading to Bursa.
  1. Reprimand; and 
  2. Penalty of RM224,000.00

27 January 2022

On 16 February 2022, Lim Yong Lee had applied to the SC for a review of its decision to sanction him and to consider reversing its decision.

On 2 September 2022, the SC affirmed its decision in respect of the findings of breach and the reprimand imposed, but reduced the quantum of penalty from RM224,000.00 to RM140,000.00.

Lim Yong Lee has fully settled the penalty of RM140,000.00 imposed by the SC.

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