Page 207 - 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
19. Insider trading Dato’ Vincent Dato’ Vincent LJW was charged with 2 counts under section
Leong Jee Wai 188(3)(a) of the CMSA for having communicated to Datuk
(Dato’ Vincent Leong Wye Keong between 26 November 2010 and 18 January
LJW) 2011 inside information in relation to the decrease in Maxbiz
Corporation Bhd (Maxbiz)’s shareholders’ equity which was
close to Maxbiz being classified as financially distressed and the
classification of Maxbiz as an affected listed issuer under Practice
Note 17 (PN17) criteria 2.1(a).

Dato’ Vincent LJW was charged on 22 May 2017. Both charges
were withdrawn on 17 October 2018 on the instructions of the
Attorney General.

20. Insider trading Datuk Leong Wye Datuk Leong WK was charged with 4 counts of insider trading
Keong (Datuk under section 188(2)(a) of the CMSA for disposing 2,131,400
Leong WK) units of Maxbiz Corporation Bhd (Maxbiz) shares in the account
of Leong Khai Shaun on 30 December 2010 and another
8,100,000 units of Maxbiz shares in his own account between
30 December 2010 and 18 January 2011 while in possession
of inside information. The alleged inside information related
to the decrease in Maxbiz’s shareholders’ equity which was
close to Maxbiz being classified as financially distressed and the
classification of Maxbiz as an affected listed issuer under Practice
Note 17 (PN17) criteria 2.1(a).

Datuk Leong WK was charged on 29 May 2017. All charges
against Datuk Leong WK were withdrawn on 17 October 2018 on
the instructions of the Attorney General.

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