KUALA LUMPUR: The Securities Commission Malaysia (SC) has charged the former chief financial officer of condom maker Karex Bhd
, Goh Chok Siang, with an insider trading offence under section 188(2)(a) of the Capital Markets and Services Act 2007.
In a statement, the SC said Goh, 54, was charged at the Kuala Lumpur Sessions Court with acquiring 150,000 Karex shares on July 22, 2020 while in possession of material non-public information about the company's planned entry into the glove manufacturing business.
Goh claimed trial before Sessions Court Judge Izralizam Sanusi and was released on RM90,000 bail with two local sureties.
He was also ordered to surrender his passport and report monthly to the SC's investigating officer until the conclusion of the trial.
If convicted, Goh faces imprisonment for a term not exceeding 10 years and a fine of not less than RM1mil.
The SC views insider trading as a serious offence and will continue to take firm enforcement action to safeguard market integrity and investor confidence.
