Regulatory Settlements in 2018

Regulatory Settlement with Dato’ Lim Lean Heng
On 18 October 2018, Dato’ Lim Lean Heng (“Dato’ Lim”) entered into a settlement with the SC in the sum of RM666,900.00 when he agreed without admission or denial of liability to settle a claim that the SC was proposing to institute against him for acquiring 727,000 Hirotako Holdings Berhad (“Hirotako”) shares in the account of Bright Memory Sdn Bhd while in possession of inside information contrary to section 188(2) of the Capital Markets and Services Act 2007 (“CMSA”). The inside information was in relation to a proposed take-over offer by MBM Resources Berhad to acquire all voting shares and outstanding warrants in Hirotako. The settlement was reached following a letter of demand sent by the SC pursuant to its civil enforcement powers under the securities laws. The amount disgorged from Dato’ Lim is equivalent to 2.5 times the difference between the price at which the shares were acquired and the price at which the shares would have been likely to have been acquired at the time of the acquisition, if the information had been generally available. The monies recovered will be applied in accordance with section 201(7) of the CMSA.

Regulatory Settlement with Dato’ Lim Lean Heng

On 18 October 2018, Dato’ Lim Lean Heng (“Dato’ Lim”) entered into a settlement with the SC in the sum of RM666,900.00 when he agreed without admission or denial of liability to settle a claim that the SC was proposing to institute against him for acquiring 727,000 Hirotako Holdings Berhad (“Hirotako”) shares in the account of Bright Memory Sdn Bhd while in possession of inside information contrary to section 188(2) of the Capital Markets and Services Act 2007 (“CMSA”). The inside information was in relation to a proposed take-over offer by MBM Resources Berhad to acquire all voting shares and outstanding warrants in Hirotako. The settlement was reached following a letter of demand sent by the SC pursuant to its civil enforcement powers under the securities laws. The amount disgorged from Dato’ Lim is equivalent to 2.5 times the difference between the price at which the shares were acquired and the price at which the shares would have been likely to have been acquired at the time of the acquisition, if the information had been generally available. The monies recovered will be applied in accordance with section 201(7) of the CMSA.

Regulatory Settlement with Abdul Rahman Bin Omar
On 20 July 2018, Tan Sri Abdul Rahman Bin Omar (“Abdul Rahman Bin Omar”) entered into a settlement with the SC in the sum of RM69,144.00 when he agreed without admission or denial of liability to settle a claim that the SC was proposing to institute against him for acquiring Edaran Otomobil Nasional Berhad (“EON”) shares while in possession of inside information, contrary to section 89E(2) of Securities Industry Act 1983 (“SIA”) . The inside information was in relation to Edaran Otomobil Nasional Berhad’s (“EON”) announcement to Bursa Malaysia Berhad of a proposed special gross dividend of 137 cent per share less 27% tax in respect of the financial year ended 31 December 2006. Abdul Rahman Bin Omar had acquired 100,000 EON shares on 23 February 2007, prior to the announcement. The settlement was reached following a letter of demand sent by the SC pursuant to its civil enforcement powers under the securities laws. The amount disgorged from Abdul Rahman Bin Omar is equivalent to three times the difference between the price at which the shares were acquired and the price at which the shares would have been likely to have been acquired at the time of the acquisition, if the information had been generally available. The monies recovered will be applied in accordance with section 90A(7) of the SIA.

Regulatory Settlement with Abdul Rahman Bin Omar

On 20 July 2018, Tan Sri Abdul Rahman Bin Omar (“Abdul Rahman Bin Omar”) entered into a settlement with the SC in the sum of RM69,144.00 when he agreed without admission or denial of liability to settle a claim that the SC was proposing to institute against him for acquiring Edaran Otomobil Nasional Berhad (“EON”) shares while in possession of inside information, contrary to section 89E(2) of Securities Industry Act 1983 (“SIA”) . The inside information was in relation to Edaran Otomobil Nasional Berhad’s (“EON”) announcement to Bursa Malaysia Berhad of a proposed special gross dividend of 137 cent per share less 27% tax in respect of the financial year ended 31 December 2006. Abdul Rahman Bin Omar had acquired 100,000 EON shares on 23 February 2007, prior to the announcement. The settlement was reached following a letter of demand sent by the SC pursuant to its civil enforcement powers under the securities laws. The amount disgorged from Abdul Rahman Bin Omar is equivalent to three times the difference between the price at which the shares were acquired and the price at which the shares would have been likely to have been acquired at the time of the acquisition, if the information had been generally available. The monies recovered will be applied in accordance with section 90A(7) of the SIA.

Regulatory Settlement with Tan Eng Kean
On 6 April 2018, Tan Eng Kean (“Tan EK”) entered into a settlement with the SC in the sum of RM56,900.00 when he agreed without admission or denial of liability to settle a claim that the SC was proposing to institute against him for acquiring 5,000 PacificMas Berhad (“PacMas”) shares in his account while in possession of inside information contrary to section 188(2) of the Capital Market and Services Act 2007 (“CMSA”). The inside information was in relation to a proposed conditional take-over offer by OSPL Holdings Sdn Bhd (“OSPL”) to acquire all the voting shares in PacMas not already owned by OSPL which was announced on 4 January 2008. Additionally, a civil penalty of RM50,000 was imposed by the SC. The settlement was reached following a letter of demand sent by the SC pursuant to its civil enforcement powers under the securities laws. The amount disgorged from Tan EK is equivalent to 3 times the difference between the price at which the shares were acquired and the price at which the shares would have been likely to have been acquired at the time of the acquisition, if the information had been generally available. The monies recovered will be applied in accordance with section 201(7) of the CMSA.

Regulatory Settlement with Tan Eng Kean

On 6 April 2018, Tan Eng Kean (“Tan EK”) entered into a settlement with the SC in the sum of RM56,900.00 when he agreed without admission or denial of liability to settle a claim that the SC was proposing to institute against him for acquiring 5,000 PacificMas Berhad (“PacMas”) shares in his account while in possession of inside information contrary to section 188(2) of the Capital Market and Services Act 2007 (“CMSA”). The inside information was in relation to a proposed conditional take-over offer by OSPL Holdings Sdn Bhd (“OSPL”) to acquire all the voting shares in PacMas not already owned by OSPL which was announced on 4 January 2008. Additionally, a civil penalty of RM50,000 was imposed by the SC. The settlement was reached following a letter of demand sent by the SC pursuant to its civil enforcement powers under the securities laws.

The amount disgorged from Tan EK is equivalent to 3 times the difference between the price at which the shares were acquired and the price at which the shares would have been likely to have been acquired at the time of the acquisition, if the information had been generally available. The monies recovered will be applied in accordance with section 201(7) of the CMSA.