PETALING JAYA: The Federal Court has dismissed an application by former Patimas Computers Bhd executive director Datuk Ng Back Heang for a leave to appeal in an insider trading case.
In a statement, the Securities Commission (SC) said the decision upholds the Court of Appeal’s unanimous decision on Sept 2, 2025, which affirmed the High Court’s finding in 2022 that Ng was liable for insider trading of Patimas shares in 2012.
Previously in 2020, the SC commenced a civil action against Ng for insider trading breaches under section 188(2)(a) of the Capital Markets and Services Act 2007.
The SC alleged that Ng had disposed of 16.5 million Patimas shares between May and July 2012 while in possession of material non-public information relating to audit queries on suspicious transactions between Patimas and its top debtors.
Following a full trial, the High Court on Nov 16, 2022 found Ng was liable for insider trading and ordered him to pay RM2.04mil to the SC. Jan 1, 2011 to March 31, 2012 due to unresolved significant audit queries.
