Page 202 - SC Annual Report 2018 (ENG)

Securities
Commission
Malaysia
ANNUAL
REPORT
2018

Table 7
outcome of criminal trials and appeals in 2018 (Continued)
Nature of
No. Offender(s) Description
offence
9. Insider trading Wee Siew Ling Wee SL was charged with 10 counts under section 122C(c)
(Wee SL) read together with section 89E(2)(a) of the SIA for abetting
Goh Keng Huat (Goh KH) in acquiring 851,600 units of Road
Builder Holdings (M) Bhd (RBH) shares through Wee SL’s accounts
between 4 September 2006 and 16 October 2006 while Goh KH
was in possession of inside information.

The SC alleged that the inside information referred to in the
charges related to the proposed acquisition of all assets and
liabilities of RBH by IJM Corporation Bhd at a total indicative
purchase consideration of approximately RM1.56 billion.

On 10 April 2018, all charges against Wee SL were withdrawn
following the guilty plea by Goh KH.
10. Criminal breach of Alan Rajendram Alan Rajendram, a former director of LFE Corporation Bhd
trust (CBT) Jeya Rajendram (LFE), was charged on 24 June 2010 with 2 charges for CBT
(Alan Rajendram) amounting to RM18.99 million. The charges for CBT were earlier
tried together with 4 other charges under securities laws for
furnishing false information to the stock exchange pertaining to
LFE’s operating expenses under section 122B(b)(bb) of the SIA and
section 369(b)(B) of the CMSA.
For the CBT charges, Alan Rajendram was alleged to have utilised
RM18.99 million of funds belonging to LFE which was meant to
be used for the working capital of LFE’s wholly owned subsidiary,
LFE International Ltd. Instead, Alan Rajendram used those funds
to finance his personal subscription of shares in LFE and to repay
his corporate debts.

On 10 May 2012, the Sessions Court acquitted Alan Rajendram
of the 2 CBT charges at the end of the Prosecution’s case. The
Prosecution appealed to the High Court. On 21 January 2016, the
High Court affirmed the acquittal and the Prosecution appealed
to the Court of Appeal.

On 3 November 2016, the Court of Appeal reversed the acquittal
and ordered for Alan Rajendram to enter his defence.
On 10 April 2018, Alan Rajendram pleaded guilty to the CBT
charges at the Sessions Court and was sentenced to 3 years
imprisonment.

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