KUALA LUMPUR: Bursa Malaysia Securities Bhd has publicly reprimanded, fined and ordered to strike off three dealer’s representatives (DRs) for engaging in manipulative dealing activities in the securities of Rapid Synergy Bhd
and YNH Property Bhd.
The securities trading regulator said in a statement that the dealers - Tiong Siew Ngaik, Yew Hock Ming and Ling Chen Yew - were fined RM859.000, RM423,000 and RM310,000 respectively for both cases.
According to Bursa Securities, the trio had engaged in manipulative/false trading activities of Rapid and YNH shares through numerous accounts of a group of their clients (some of them were common clients of the three DRs) over a prolonged period.
“These activities had created a false or misleading appearance of active trading in, the market for and/or the price of the securities (false/misleading appearance) of these two counters,” it said.
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