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Monday, 15 February 2016 | MYT 11:53 AM

Court adjourns sentencing for Repco Low to Feb 29

Low was initially supposed to be sentenced on Monday, after being found guilty on Jan 11 for manipulation of Repco Holdings Bhd shares.

Low was initially supposed to be sentenced on Monday, after being found guilty on Jan 11 for manipulation of Repco Holdings Bhd shares.


KUALA LUMPUR: The Kuala Lumpur Sessions Court has once again adjourned the sentencing of Low Thiam Hock, better known as "Repco Low" in stock market circles, to Feb 29, 2016.

Following a near two-hour mitigation session by Low's lawyer on Monday, Sessions Court judge Mat Ghani Abdullah has pushed the decision for sentencing to the end of the month. 

The prosecution is asking that Low be sentenced between five to eight years, and has also demanded prosecution cost of RM3.02mil. 
 

Low was initially supposed to be sentenced on Monday, after being found guilty on Jan 11 for manipulation of Repco Holdings Bhd shares. 


He was initially charged in 1999 under Section 84(1) of the Securities Industry Act 1983 (SIA) after committing the offence in 1997.

However, in 2013, following an appeal by the SC, the Court of Appeal unanimously overturned the decision by the High Court and Sessions Court to acquit Low over manipulating Repco's shares. 

Low was then ordered to enter his defence at the Sessions Court. Throughout the course of the 17-year case, nearly 30 witnesses were called from both sides, including stock market and stock valuation experts.

A person found guilty under the SIA would be liable to a minimum fine of RM1mil and maximum jail term of up to 10 years.

Tags / Keywords: Corporate News , Markets , Low Thiam Hock , manipulation of Repco Holdings Bhd shares

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