Former Perak Corp CEO loses lawsuit

PETALING JAYA: The Securities Commission (SC) has won an insider trading civil suit against the former chief executive officer of Perak State Development Corp (PKNP) and Perak Corp Bhd (PCB) Datuk Aminuddin Md Desa.

In a statement, the SC said High Court Judge Wan Muhammad Amin Wan Yahya ordered Aminuddin to pay a total of RM3.56mil to the SC after successfully proving an insider trading case related to PKNP’s proposed privatisation of PCB against the defendant.

Aminuddin is also barred from assuming the role of CEO or director, or participating in the management of a public listed company (PLC) or its subsidiaries, as well as trading in any securities on Bursa Malaysia for a period of five years from the court judgement on Feb 13, 2024.