Regulatory Settlements in 2025

Regulatory Settlement with Tan Khang Khim
On 21 March 2025, Tan Khang Khim (“Tan”) entered into a regulatory settlement with the SC in the sum of RM2,089,876.05 when he agreed without admission or denial of liability, to settle a civil claim that the SC was proposing to institute against him and seven others, for the manipulation of Saudee Group Berhad (“SAUDEE”) shares between 3 August 2015 and 24 March 2016, contrary to section 175 and/or 176 of the Capital Markets and Services Act 2007 (“CMSA”). The seven other individuals involved in the alleged manipulation were: Ong Kaik Yong Law Chin Hooi Chua Eng Chin Chiew Sai Weng Chew Huey Ping Chong Booi Leong @ Choong Wei Leong Teresa Lim The settlement was reached following letters of demand sent by the SC pursuant to its civil enforcement powers under the securities laws. The monies recovered will be applied in accordance with section 200(3) of the CMSA.
Regulatory Settlement with Dato’ Lua Choon Hann
On 27 January 2025, the SC entered into a regulatory settlement with Dato’ Lua Choon Hann (“Lua”) in the sum of RM6,986,473.77 when he agreed without admission or denial of liability, to settle a claim that the SC was proposing to institute against him for the manipulation of PRG Holdings Berhad (“PRG”) shares between 3 August 2015 and 17 June 2016, contrary to section 175 and/or 176 of the Capital Markets and Services Act 2007. The settlement was reached following a letter of demand sent by the SC pursuant to its civil enforcement powers under the securities laws. The monies recovered will be applied in accordance with section 200(3) of the CMSA.

Regulatory Settlement with Tan Khang Khim

On 21 March 2025, Tan Khang Khim (“Tan”) entered into a regulatory settlement with the SC in the sum of RM2,089,876.05 when he agreed without admission or denial of liability, to settle a civil claim that the SC was proposing to institute against him and seven others, for the manipulation of Saudee Group Berhad (“SAUDEE”) shares between 3 August 2015 and 24 March 2016, contrary to section 175 and/or 176 of the Capital Markets and Services Act 2007 (“CMSA”). The seven other individuals involved in the alleged manipulation were:

Ong Kaik Yong
Law Chin Hooi
Chua Eng Chin
Chiew Sai Weng
Chew Huey Ping
Chong Booi Leong @ Choong Wei Leong
Teresa Lim

The settlement was reached following letters of demand sent by the SC pursuant to its civil enforcement powers under the securities laws. The monies recovered will be applied in accordance with section 200(3) of the CMSA.

Regulatory Settlement with Dato’ Lua Choon Hann

On 27 January 2025, the SC entered into a regulatory settlement with Dato’ Lua Choon Hann (“Lua”) in the sum of RM6,986,473.77 when he agreed without admission or denial of liability, to settle a claim that the SC was proposing to institute against him for the manipulation of PRG Holdings Berhad (“PRG”) shares between 3 August 2015 and 17 June 2016, contrary to section 175 and/or 176 of the Capital Markets and Services Act 2007.

The settlement was reached following a letter of demand sent by the SC pursuant to its civil enforcement powers under the securities laws. The monies recovered will be applied in accordance with section 200(3) of the CMSA.