Trader Yap reprimanded

PETALING JAYA: Bursa Malaysia has publicly reprimanded and imposed a RM500,000 fine on Melvin Yap Han Khoon and ordered him to be struck off as a trader for engaging in manipulative dealing activities in three securities.

The counters are Bright Packaging Industry Bhd, Asia Media Group Bhd and Cybertowers Bhd.

The exchange alleged Yap, who at the material time of the alleged breach was a commissioned dealer representative of OSK Investment Bank Bhd at the Sri Petaling branch, had engaged in numerous manipulative and false dealing activities over a period of time in several clients’ accounts.

These activities included marking the close up and down, driving up the price and rollover activities, which created a misleading appearance of active trading in the three aforementioned stocks.

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