Malaysia Case Law: Decisions & Judgments | LexChat

Malaysia Case Law

Civil penalty

  • 13 Feb 2024

    Suruhanjaya Sekuriti Malaysia Dato' Aminuddin Bin Md Desa

    Citation
    WA-22NCC-573-12/2021 (Mahkamah Tinggi)
    Court
    High Court
    Case number
    WA-22NCC-573-12/2021 (Mahkamah Tinggi)

    On the balance of probabilities, circumstantial evidence (close relationship, funding trail, timing and pattern of trades, phone call proximity, joint benefit and attempts to conceal modus operandi), unrebutted by the defendant who elected not to give evidence, established that the defendant, an insider, jointly acquired PCB shares (or procured Jamal) while in possession of inside information in contravention of s188(2)(a) (alternatively s188(2)(b)) CMSA; statutory remedies under s201(5) and s360 follow.

  • 16 Nov 2022

    Suruhanjaya Sekuriti Malaysia Ng Back Heang

    Citation
    WA-22NCC-162-04/2020 (Mahkamah Tinggi)
    Court
    High Court
    Case number
    WA-22NCC-162-04/2020 (Mahkamah Tinggi)

    The court found on the balance of probabilities that the Defendant attended and was present throughout the 24.5.2012 meeting where auditors raised audit queries (inside information) that were not generally available, that the Defendant knew or ought to have known they were not generally available, that the information was material (corroborated by a 55% share price collapse after public announcement), and that the Defendant disposed of shares after possessing that information; accordingly the Defendant contravened s188(2)(a) CMSA and the Plaintiff was entitled to treble avoided losses (RM1,23…