Court of Appeal rules in favour of SC in insider trading case

KUALA LUMPUR: The Court of Appeal has unanimously allowed the Securities Commission’s (SC) appeal and set aside a 2021 High Court decision which had acquitted former executive deputy chairman of Malaysian Merchant Marine Bhd (MMM) Datuk Ramesh Rajaratnam for insider trading.

Justices Datuk Vazeer Alam Mydin Meera, Datuk Ahmad Zaidi Ibrahim and Datuk Wong Kian Kheong found that the High Court had erred in acquitting Ramesh without considering the merits of the case, the SC said in a statement.