13 Apr 2023
Suruhanjaya Sekuriti Malaysia Toh Kai Fatt
- Citation
- WA-22NCC-416-09/2021 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-22NCC-416-09/2021 (Mahkamah Tinggi)
On the balance of probabilities the defendant received material non-public information from PW2 (an insider) as established by compelling circumstantial evidence (intense communications timed with large, atypical purchases, acquisition patterns and volume), the information was not generally available until the Bursa Announcement and was material (a proposed takeover would reasonably influence investors), and the defendant traded while in possession of that information; accordingly the defendant contravened s188(2)(a) CMSA and is liable to remedies under s201(5) and s360 CMSA.