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ENFORCEMENT ACTION

List of Cases Compounded

2008

Cases Compounded in 2008

No.	Nature of Offence	Offender(s)	Facts of Case	Compound
1.	Opened securities accounts under names of nominees who were not the beneficial owners	Patric Lim Hong Koon	Opened accounts at Omega Securities Sdn Bhd and Amsteel Securities Sdn Bhd under names of nominees for Soh Chee Wen.	Patric Lim Hong Koon was compounded RM500,000 for the offence.
2.	Abet in the making of a statement that is misleading in material particular	Lo Chok Ping	Lo was compounded for abetting Transmile Group Berhad (‘TGB’) in making a statement that is misleading in a material particular in TGB’s “Quarterly Report On Unaudited Consolidated Results For the Financial Year Ended 31 December 2006” At the material time, Lo was the Chief Financial Officer (CFO) and Executive Director (ED) of TGB respectively.	Lo was compounded RM700,000 for the offence.
3.	Breach of condition of approval for proposal	Chan Ah Chye	On 14 June 2001, Talam Corporation Bhd (TCB) through its advisor, Abrar Discounts Berhad (Abrar) submitted a proposal to SC for a proposed issuance of RM600mil Al Bai Bithaman Ajil Islamic Debt Securities (BaIDS) by Maxisegar Sdn Bhd, a wholly-owned subsidiary of TCB. Purpose of the issuance of the BaIDS was to part finance the construction of the main campus of Universiti Industri Selangor [UNISEL] and the development of 3 pieces of land alienated by the Selangor State Government to Maxisegar Sdn Bhd. On 7 September 2001, SC approved the said proposal subject to certain conditions, among others, any variation to the terms and conditions of the issuance must be subject to SC’s approval. Investigation findings revealed that RM90mil of the BaIDS proceeds was withdrawn and utilised for purpose other than the approved purpose subsequent to the approval being granted.	Chan was compounded RM500,000 for the offence.
4.	Causing to be issued a prospectus which contains false information.	Ng Chee Loong	Ng, principal of Messrs Michael Ng & Associates (Reporting Accountant of Energro Berhad), was charged for causing to be issued Energro Berhad’s Prospectus that contains false information namely Milan Auto (M) Sdn Bhd’s turnover for 2003 is RM82.336 million.	Ng was compounded RM800,000 for the offence.