Malaysia Case Law: Decisions & Judgments | LexChat

Malaysia Case Law

Inside information

  • 7 Apr 2022

    Suruhanjaya Sekuriti Malaysia Yap Wee Hin PIHAK TERKILAN Tay Yu Hui

    Citation
    WA-22NCC-163-04/2020 (Mahkamah Tinggi)
    Court
    High Court
    Case number
    WA-22NCC-163-04/2020 (Mahkamah Tinggi)

    On the balance of probabilities the defendant, by virtue of his roles, relationships and dealings, possessed non‑public audit information (inside information) which was not generally available, knew or ought to have known it was not generally available, and disposed or procured disposal of PCB shares in contravention of s188(2)(a) and (b) CMSA; circumstantial evidence and the post‑announcement 55% share price fall established non‑availability and materiality; remedies including maximum civil penalty and costs were appropriate.

  • 31 Mar 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 1st Defendant attended the emergency board meeting and thus possessed the non-public Cancellation Notice, circumstantial evidence of intensive short-duration calls/SMS between defendants around disposal dates together with expert evidence of materiality established that 1st Defendant communicated the inside information to 2nd Defendant who then disposed of shares while in possession of that information; the information was material and not generally available and both defendants thereby breached s188 CMSA; counterclaim dismissed for lack of proo…