Supermax executive chairman, wife charged with insider trading (Update)

Tiong was charged with selling 6.208 million APLI shares via the accounts of his mother-in-law, Bong Nyon and his mother, Ling Moy Yang on  Oct 26, 2007 and Oct 29, 2007.

The SC said he had non-public information involving the audit adjustments proposed by APLI’s auditors. The adjustments would result in APLI reporting a higher loss of RM21.1mil in FY ended June 30, 2007 as compared to the unaudited results of RM4.5mil for the same period.