The Securities Commission Malaysia (SC) has announced that Prime Minister Y.A.B Dato' Sri Mohd. Najib bin Tun Haji Abdul Razak in his capacity as Minister of Finance has appointed Datuk Zainal Izlan Zainal Abidin as the SC’s new Deputy Chief Executive (DCE) which takes effect from 5 April 2018. Datuk Zainal Izlan replaces Dato’ Ahmad…
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The High Court today informed that it has found that the Securities Commission Malaysia (SC) had successfully proven an insider trading case against Chan Soon Huat, a former founder and director of WCT Bhd (WCT). In the suit that was filed in 2015, the SC claimed that Chan had breached section 188(2)(a) of the Capital…
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The Securities Commission Malaysia (SC) and Bank Negara Malaysia (BNM) informed today that they wish to draw the public’s attention to initial coin offering (ICO) schemes which may involve activities that are subject to laws administered by the SC and BNM. Carrying on such activities without proper authorisation is an offense. Issuers of ICOs should…
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The Securities Commission Malaysia (SC) informed that it has today charged a 67-year-old man for defrauding Koperasi Pelaburan Pekerja-Pekerja Proton Bhd (KOPRO) of its investments of RM350,000 for the purchase of securities between August 2007 and November 2008. Ismail Basir was also alleged to have represented to KOPRO that he was a remisier, when in…
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The Securities Commission Malaysia (SC) announced that it has directed CopyCash Foundation to immediately cease and desist all its proposed activities including a purported plan to launch an Initial Coin Offering (ICO) on 10 January 2018 in Malaysia. This directive covers all activities as described in or incidental to CopyCash Foundation’s white paper pursuant to…
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Securities Commission Malaysia (SC) announced that it has today reprimanded and fined five directors of TRIVE Property Group Bhd (Trive) for knowingly furnishing false or misleading statements in the 2014 audited financial statements of the company to SC and Bursa Malaysia. SC’s sanctions arose as a result of its findings that Trive had failed to…
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Securities Commission Malaysia (SC) today announced that has charged a former substantial shareholder of Maxbiz Corporation Bhd, Datuk Andrew Leong Wye Keong, with four counts of insider trading. Andrew Leong was charged under section 188(2)(a) of the Capital Markets and Services Act 2007 (CMSA) for disposing 2,131,400 units of Maxbiz shares in his son’s account…
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Securities Commission Malaysia (SC) today charged Dato’ Vincent Leong Jee Wai for insider trading of shares of Maxbiz Corporation Berhad (Maxbiz). Dato’ Vincent Leong, 58, was charged at the Kuala Lumpur Sessions Court this morning with two counts of communicating material non-public information between November 2010 and January 2011 to one Leong Wye Keong when…
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Securities Commission Malaysia (SC) today brought into effect a new guideline to allow the regulated short selling of corporate bonds in the Malaysian capital market. With the new Guidelines on Regulated Short Selling of Corporate Bonds (Guidelines), Principal Dealers are now permitted to conduct regulated short selling of corporate bonds, expanding the range of bonds…
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Securities Commission Malaysia (SC) announced that has filed a civil suit at the Kuala Lumpur High Court against three individuals – namely Koh Tee Jin, Koh Thiam Seong and Koh Hui Sim – for insider trading involving the shares of Axis Incorporation Berhad (Axis). In the suit filed on 13 March 2017, SC claimed that…
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