28 Apr 2022
Suruhanjaya Sekuriti Malaysia 1. ) WONG SHEE KAI 2. ) TEH SEW WAN 3. ) WONG SK HOLDINGS SDN. BHD. PENCELAH Suruhanjaya Sekuriti Malaysia
- Citation
- WA-22NCC-171-05/2020 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-22NCC-171-05/2020 (Mahkamah Tinggi)
The court held that (1) s179 CMSA falls within the ambit of a 'relevant requirement' for s360 purposes and the SC has statutory power to seek freezing relief; (2) the SC established a good arguable case of fraud under s179 based on pleaded primary facts and money-tracing; (3) there was a real risk of dissipation (including post-notice asset transfers and the nature of the alleged scheme) justifying a worldwide freezing injunction up to RM169,223,500; (4) the ex parte injunction was not vitiated by non-disclosure or temporary reliance on an unaffirmed affidavit where undertakings were given an…