Court upholds conviction for short-selling of shares

2 March 2009 | Kuala Lumpur

The High Court had, on Friday 27 February 2009, dismissed the appeal of Lua Yik Hor against a conviction and sentence for short-selling of shares.

Judge Dato Ahmad bin Maarop dismissed the appeal against conviction and sentence after hearing submissions from both the Prosecution and the Accused. The Judge also maintained the imprisonment sentence imposed by the Sessions Court but had agreed to a stay of execution pending the decision of the Court of Appeal.

On 10 November 2000, the Sessions Court convicted Lua Yik Hor for 30 charges of short selling North Borneo Timber shares in 1995. He was sentenced to two (2) years imprisonment on each charge, the sentence of which is to run concurrently from the date of sentence.

The High Court granted Lua Yik Hor bail at RM100,000 with two sureties.

SECURITIES COMMISSION MALAYSIA

SC-World Bank-IOSCO Asia Pacific Hub Conference 2019: Enhancing Financial Inclusion through Islamic Finance and FinTech
(From left to right):

Abayomi A. Alawode, Head of Islamic Finance, Finance, Competitiveness and Innovation, The World Bank Group
Datuk Syed Zaid Albar, Chairman of the Securities Commission Malaysia (SC)
Dr. Firas Raad, Country Manager for Malaysia, East Asia and Pacific, The World Bank Group
Datuk Zainal Izlan Zainal Abidin, Deputy Chief Executive of SC

about the SC

The Securities Commission Malaysia (SC) was established on 1 March 1993 under the Securities Commission Act 1993 (SCA). We are a self-funded statutory body entrusted with the responsibility to regulate and develop the Malaysian capital market.

General Line: +603-6204 8000
General Email: [email protected]