Former MD convicted of insider trading


The Securities Commission (SC) said in a statement Cheah was sentenced to one-day jail and a fine of RM1mil (in default 12 months imprisonment) after he pleaded guilty to one charge of insider trading under section 188(2)(a) of the Capital Markets and Services Act 2007 (CMSA).

PETALING JAYA: Former managing director of DIS Technology Holdings Bhd (DIS Tech), Cheah Yew Keat, has been convicted and sentenced for insider trading by the Kuala Lumpur Sessions Court.

The Securities Commission (SC) said in a statement Cheah was sentenced to one-day jail and a fine of RM1mil (in default 12 months imprisonment) after he pleaded guilty to one charge of insider trading under section 188(2)(a) of the Capital Markets and Services Act 2007 (CMSA).

The SC charged Cheah on Oct 10,2019, with disposing of 2.9 million units of DIS Tech shares between March 1 and 4,2010, via accounts belonging to his personal assistant’s husband, Chuah Ni.

The alleged misstatement of DIS Tech’s quarterly financial reports between the third quarter of 2008 and fourth quarter of 2009, would have a significant impact on DIS Tech’s financial results, the SC said.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Securities Commission , SC , MD , convicted , insider trading ,

   

Next In Business News

Budget 2022: MAHB seeks incentives to restore air connectivity
Touch ‘n Go eWallet launches DuitNow transfer
Hong Kong’s IPO market withers as billion-dollar listings lapse
Netflix estimates ‘Squid Game’ will be worth US$900m
Down Is still up for foreign investors piling into China
More opportunities under 12th Malaysia Plan, gig economy to benefit
Second phase of London's Battersea Power Station to be opened to public next year
CPO futures seen trading higher next week on improved sentiment, may hit RM5,050
US to lift restrictions Nov 8 for vaccinated foreign travelers
China aluminium firm Zhongwang flags 'severe difficulties' at subsidiaries

Others Also Read


Vouchers