Malaysia Case Law: Decisions & Judgments | LexChat

Malaysia Case Law

Civil penalties

  • 22 Apr 2024

    SURUHANJAYA SEKURITI MALAYSIA 1. ) LIM KOK BOON 2. ) CHEAH MEAN HAR

    Citation
    WA-22NCC-389-09/2017 (Mahkamah Tinggi)
    Court
    High Court
    Case number
    WA-22NCC-389-09/2017 (Mahkamah Tinggi)

    On the balance of probabilities the court found all statutory elements of insider trading satisfied: 1st defendant possessed inside information and communicated it to 2nd defendant (s188(3)); 2nd defendant acquired GWP shares while in possession of that information (s188(2)); the information was not generally available until the public announcement on 3 October 2012 (s184); defendants knew or ought reasonably to have known information was non-public and material (s188(1)); circumstantial evidence (close personal relationship, volume/timing/value of trades, proximate communications, missing SM…

  • 22 Dec 2022

    XXXX XXXX

    Citation
    22NCC-146-05/2015 (Mahkamah Tinggi)
    Court
    High Court
    Case number
    22NCC-146-05/2015 (Mahkamah Tinggi)

    On the balance of probabilities the court found the 1st Defendant attended the emergency WCT board meeting and had possession of the MEYDAN Cancellation Notice, communicated that non‑public material information to the 2nd Defendant by a pattern of calls/SMS shortly before and during disposals, and the 2nd Defendant acted by disposing 1.64 million shares prior to public disclosure; the information was material and not generally available, therefore both Defendants were insiders and breached s188 CMSA; the 1st Defendant's counterclaim failed for lack of proof.