| Regulatory Settlement with Geoffrey Grant Barlow |
|---|
On 16 May 2024, the SC entered into a regulatory settlement with Geoffrey Grant Barlow (“Barlow”) in the sum of RM392,156.00 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 Latexx Partners Berhad (“Latexx”) in breach of section 188(2)(a) of the Capital Markets and Services Act 2007 (“CMSA”). Barlow had acquired 350,000 Latexx shares between 30 July 2012 and 3 October 2012 while in possession of inside information in relation to the proposed conditional take-over of Latexx by Semperit Investments Asia Pte Ltd. 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 Barlow for each breach is equivalent to 2 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 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’ Lee Kok Chuan |
On 1 March 2024, the SC entered into a regulatory settlement with Dato’ Lee Kok Chuan (“Dato’ Francis Lee”) in the sum of RM278,395.00 when he agreed without admission of liability to settle a claim that the SC was proposing to institute against him for communication of inside information, in breach of section 188(3)(a) of the Capital Markets and Services Act 2007 (“CMSA”). Dato’ Francis Lee had communicated inside information in relation to Berjaya Food Berhad’s (“BFood”) proposed acquisition of 50% of the shares in Berjaya Starbucks Coffee Company Sdn Bhd from Starbucks International Inc to one Chew Chong Eu (“Vincent Chew”) who acquired 235,000 BFood shares on 22 and 23 July 2014. 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’ Francis Lee is equivalent to 2 times the difference between the price at which the shares were acquired by Vincent Chew 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 Chew Chong Eu |
|
On 28 February 2024, the SC entered into a regulatory settlement with Chew Chong Eu (“Vincent Chew”) in the sum of RM278,395.00 when he agreed without admission of liability to settle a claim that the SC was proposing to institute against him for insider trading of shares in Berjaya Food Berhad (“BFood”) in breach of section 188(2)(a) of the Capital Markets and Services Act 2007 (“CMSA”). Vincent Chew had acquired 235,000 BFood shares on 22 and 23 July 2014 while in possession of inside information relating to BFood’s proposed acquisition of 50% of the shares in Berjaya Starbucks Coffee Company Sdn Bhd from Starbucks International Inc. 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 Vincent Chew is equivalent to 2 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 inside information had been generally available. The monies recovered will be applied in accordance with section 201(7) of the CMSA. |
| Regulatory Settlement with Loh Yu San and Loh Chin Seong |
|
On 26 January 2024, the SC entered into a regulatory settlement with Loh Yu San and Loh Chin Seong in the sum of RM11,091,125.70 when they agreed without admission or denial of liability to settle a claim that the SC was proposing to institute against them for insider trading of shares in Iskandar Waterfront City Berhad (“IWCity”), in breach of section 188(2)(a) of the Capital Markets and Services Act 2007 (“CMSA”) The pair had allegedly disposed a total of 5,723,800 shares in IWCity on 3 May 2017 while in possession of inside information relating to the cancellation of a share sale agreement that TRX City Sdn Bhd (“TRX”) had entered into with Iskandar Waterfront Holdings Sdn Bhd (“IWH”) and China Railway Engineering Corporation (M) Sdn Bhd (“CREC”). At the material time, IWH was the single largest shareholder of IWCity. 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 Loh Yu San and Loh Chin Seong is equivalent to 2 times the difference between the price at which the shares were disposed and the price at which the shares would have been likely to have been disposed at the time of the disposal if the inside information had been generally available. The monies recovered will be applied in accordance with section 201(7) of the CMSA |
