Regulatory Settlements in 2023

Regulatory Settlement with Datuk Chung Hon Cheong
On 20 March 2023, the SC entered into a regulatory settlement with Datuk Chung Hon Cheong (“Datuk Chung”) in the sum of RM508,408.02 when he agreed without admission or denial of liability, to settle a claim that the SC was proposing to institute against him for communicating inside information in breach of section 188(3)(b) of the Capital Markets and Services Act 2007 (“CMSA”) as follows:- The inside information was communicated to one Si Tho Yoke Meng who thereafter procured one Ahilan Sumander a/l S.L Thevar (“Ahilan”) to acquire 300,000 units of shares in Integrax Berhad (“Integrax”) between 31 October 2014 and 11 November 2014; and The inside information was in relation to the proposed privatisation of Integrax by Tenaga Nasional Berhad. 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 Datuk Chung is equivalent to 3 times the difference between the price at which the shares were acquired by Ahilan 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 Datuk Chung Hon Cheong

On 20 March 2023, the SC entered into a regulatory settlement with Datuk Chung Hon Cheong (“Datuk Chung”) in the sum of RM508,408.02 when he agreed without admission or denial of liability, to settle a claim that the SC was proposing to institute against him for communicating inside information in breach of section 188(3)(b) of the Capital Markets and Services Act 2007 (“CMSA”) as follows:-

The inside information was communicated to one Si Tho Yoke Meng who thereafter procured one Ahilan Sumander a/l S.L Thevar (“Ahilan”) to acquire 300,000 units of shares in Integrax Berhad (“Integrax”) between 31 October 2014 and 11 November 2014; and
The inside information was in relation to the proposed privatisation of Integrax by Tenaga Nasional Berhad.

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 Datuk Chung is equivalent to 3 times the difference between the price at which the shares were acquired by Ahilan 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 Si Tho Yoke Meng
On 20 March 2023, the SC entered into a regulatory settlement with Si Tho Yoke Meng (“Si Tho”) in the sum of RM508,408.02 when he agreed without admission or denial of liability, to settle a claim that the SC was proposing to institute against him for insider trading of shares in Integrax Berhad (“Integrax”) in breach of section 188(2)(b) of the Capital Markets and Services Act 2007 (“CMSA”) Si Tho, while in possession of inside information, had procured one Ahilan Sumander a/l S.L Thevar to acquire 300,000 units of Integrax shares between 31 October 2014 and 11 November 2014. The inside information was in relation to the proposed privatisation of Integrax by Tenaga Nasional Berhad, 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 Si Tho is equivalent to 3 times the difference between the price at which the shares were acquired by Ahilan 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) CMSA.
Regulatory Settlement with Ahilan Sumander a/l S.L Thevar
On 22 March 2023, the SC entered into a regulatory settlement with Ahilan Sumander a/l S.L Thevar (“Ahilan”) in the sum of RM508,408.02 when he agreed without admission or denial of liability, to settle a claim that the SC was proposing to institute against him for insider trading of shares in Integrax Berhad (“Integrax”) in breach of section 188(2)(b) of the Capital Markets and Services Act 2007 (“CMSA”) Ahilan had acquired 300,000 units of Integrax shares between 31 October 2014 and 11 November 2014 while in possession of inside information which was in relation to the proposed privatisation of Integrax by Tenaga Nasional Berhad. 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 Ahilan is equivalent to 3 times the difference between the price at which the shares were acquired by him 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) CMSA.

Regulatory Settlement with Si Tho Yoke Meng

On 20 March 2023, the SC entered into a regulatory settlement with Si Tho Yoke Meng (“Si Tho”) in the sum of RM508,408.02 when he agreed without admission or denial of liability, to settle a claim that the SC was proposing to institute against him for insider trading of shares in Integrax Berhad (“Integrax”) in breach of section 188(2)(b) of the Capital Markets and Services Act 2007 (“CMSA”)

Si Tho, while in possession of inside information, had procured one Ahilan Sumander a/l S.L Thevar to acquire 300,000 units of Integrax shares between 31 October 2014 and 11 November 2014. The inside information was in relation to the proposed privatisation of Integrax by Tenaga Nasional Berhad,

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 Si Tho is equivalent to 3 times the difference between the price at which the shares were acquired by Ahilan 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) CMSA.

Regulatory Settlement with Ahilan Sumander a/l S.L Thevar

On 22 March 2023, the SC entered into a regulatory settlement with Ahilan Sumander a/l S.L Thevar (“Ahilan”) in the sum of RM508,408.02 when he agreed without admission or denial of liability, to settle a claim that the SC was proposing to institute against him for insider trading of shares in Integrax Berhad (“Integrax”) in breach of section 188(2)(b) of the Capital Markets and Services Act 2007 (“CMSA”)

Ahilan had acquired 300,000 units of Integrax shares between 31 October 2014 and 11 November 2014 while in possession of inside information which was in relation to the proposed privatisation of Integrax by Tenaga Nasional Berhad.

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 Ahilan is equivalent to 3 times the difference between the price at which the shares were acquired by him 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) CMSA.