Page 205 - 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
15. Insider trading Tan Bee Geok Tan BG was charged under section 188(3)(a) CMSA for having
(Tan BG) communicated to Tan Bee Hong between 23 to 31 October
2007 inside information in relation to the audit adjustments
proposed by APL Industries Bhd (APLI)’s auditors which would
result in APLI reporting a higher loss for the financial year ended
30 June 2007, as compared to the previously reported unaudited
th
4 quarter results for the same financial year and that APLI
would be classified as an affected issuer pursuant to the Listing
Requirements of Bursa Malaysia Securities Bhd and Practice Note
17/2005.
Tan BG was charged at the Kuala Lumpur Sessions Court on 15
December 2014.
On 9 August 2018, Tan BG was convicted by the Sessions Court
and was sentenced to 5 years imprisonment and a fine of
RM7 million.
16. • Fraud on a PLC Ngu Tieng Ung On 5 May 2005, Ngu TU, the former Managing Director of
• CBT (Ngu TU) Pancaran Ikrab Bhd (PIB), was charged with 2 counts under
section 87A(b) of the SIA for engaging in the act that operated
Wong Jit Kiang as a fraud on PIB by utilising RM15.5 million of PIB’s funds to
(Wong JK) purchase PIB shares.
Ngu TU was also charged with 1 count of committing CBT under
section 409 of the Penal Code in respect of RM21.5 million of
PIB’s funds.

Further, an alternative charge of committing CBT under section
409 of the Penal Code involving RM37 million of PIB’s funds was
also preferred against Ngu TU.
Wong JK was charged for abetting Ngu TU in the commission of
the said offences.
Wong JK failed to attend court since 23 March 2009 and on
24 March 2010, the Sessions Court granted a discharge not
amounting to an acquittal against him. A warrant of arrest is still
pending against him.
In October 2010, Ngu TU pleaded guilty to the 2 principal charges
under the SIA and was sentenced to 1-day imprisonment and a
RM1 million fine for each charge.

In August 2011 upon the Prosecution’s appeal against the sentence,
the High Court set aside the conviction and sentence, on the
ground that the plea was qualified and remitted the matter for a
retrial to the Sessions Court.

The retrial against Ngu TU commenced in January 2012.

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