SC bans seven foreigners and corporations from trading on Bursa

When contacted, Advancecon group chief executive officer Datuk Phum Ang Kia said it was unable to give a new date for the prospectus launch at this juncture, pending queries from the SC.

PETALING JAYA: Seven foreign individuals and corporations have been permanently barred from trading in any counter on Bursa Malaysia due to their role in the manipulation of Iris Corp Bhd shares in 2006.

In a statement yesterday, the Securities Commission (SC) said the High Court had ruled in favour of the capital market regulator against six foreign defendants in the manipulation case, thus ending the civil suit filed by the SC in 2008.