This paves the way for the SC to enforce the recovery of the RM5.83 million judgment sum arising from insider trading breaches by the duo.

Following a full trial in 2022, the High Court held Goh and Leong (“the Defendants”) liable for insider trading under sections 188(3) and 188(2) of the Capital Markets and Services Act 2007 (CMSA). The contravention was in relation to the communication of material non-public information and trading in WCT Berhad (WCT) shares while in possession of the said information.

The material non-public information concerned the cancellation of a contract for the proposed construction of the “Nad Al Sheba Dubai Racecourse” in Dubai, United Arab Emirates, which was awarded to a joint-venture company set up by WCT and one Arabtec Construction LLC. At the material time, Goh was the Deputy Managing Director of WCT.

The then High Court judge Yang Arif Dato' Ahmad Zaidi Ibrahim ordered each of them to pay RM2,542,184.70 as disgorgement of losses avoided, civil penalty of RM300,000 and costs of RM75,000 to the SC (collectively referred to as the Judgment Sum).

Both Defendants appealed against the decision to the Court of Appeal and applied for a stay of execution of the Judgment Sum pending the appeals. Their applications were dismissed by the High Court on 23 October 2023, and subsequently by the Court of Appeal on 14 May 2024.

Despite the dismissal of the stay applications by both courts, the Defendants both failed to comply with the SC’s demand for payment of the Judgment Sum.

Consequently, on 21 July 2025, the SC commenced garnishee proceedings against the Defendants to recover the Judgment Sum. The High Court Registrar (Registrar) granted the garnishee order nisi on 26 August 2025. The Defendants then applied to set aside the order, which resulted in the garnishee order nisi being set aside by the Registrar on 17 December 2025.

The SC subsequently appealed against the Registrar’s decision to the High Court on 19 December 2025.

High Court judge, Yang Arif Tuan Leong Wai Hong today allowed the SC’s appeal and set aside the Registrar’s decision on 17 December 2025, and instead ordered for the garnishee order nisi to be made absolute. The High Court also ordered both Defendants to each pay costs of RM5,000 to the SC. Following the outcome today, the SC will proceed with next steps to recover the Judgment Sum.

This outcome reaffirms the SC’s commitment to the robust enforcement of civil judgments as a key pillar of its regulatory mandate. The SC will continue to pursue all available enforcement measures to ensure full payment of judgment sums obtained in civil enforcement actions. The main appeal has been fixed for hearing at the Court of Appeal on 9 July 2026.

The SC was represented by Ng Chian Huey and Adibah Saiful Bahri, alongside its external counsel, Messrs Benjamin Dawson. The Defendants were represented by Messrs Jasbeer, Nur & Lee.