Regulatory Settlements in 2023

Regulatory Settlement with Low Bok Tek
On 15 December 2023, the SC entered into a regulatory settlement with Low Bok Tek (“Low”) in the sum of RM3,595,922.00 when he agreed without admission or denial of liability, to settle a claim that the SC was proposing to institute against him as follows : For communicating inside information in relation to the proposed conditional take-over of Latexx Partners Berhad (“Latexx”) by Semperit Investments Asia Pte Ltd to one Geoffrey Grant Barlow (“Barlow”) on 27 July 2012 in breach of section 188(3)(a) of the Capital Markets and Services Act 2007 (“CMSA”) ; and For procuring one Best Time Venture Sdn Bhd (“BTV”) to acquire 2,442,500 shares and 154,300 warrants in Latexx between 30 July 2012 and 5 October 2012 while in possession of the said inside information, in breach of section 188(2)(b) of the CMSA. The settlement was reached following letters of demand sent by the SC pursuant to its civil enforcement powers under the securities laws. The amount disgorged from Low for each breach is equivalent to 2 times the difference between the price at which the shares were acquired by Barlow and BTV and the price at which the shares would have been likely to have been acquired at the time of the acquisition if the inside 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 Thiam Huat
On 22 December 2023, the SC entered into a settlement agreement with Dato’ Lim Thiam Huat (“Dato’ Lim”) in the sum of RM8,482,500.00 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 Naim Indah Corporation Berhad (“NICORP”), in breach of section 188(2)(a) of the Capital Markets and Services Act 2007 (“CMSA”). Dato’ Lim had allegedly acquired 19,500,000 shares in NICORP between 3 and 8 February 2012, while in possession of inside information relating to the disposal of 22.8% shares in NICORP held by Crest Energy Sdn Bhd, a substantial shareholder of NICORP at the material time, to one Datuk Raymond Chan Boon Siew and 5 other individuals. 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 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 inside 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.