Page 210 - SC Annual Report 2018 (ENG)

Securities
Commission
Malaysia
ANNUAL
REPORT
2018

Table 8
outcome of civil action taken (Continued)
Nature of
No. Defendants Description Outcome
breach

3. • False trading • Ng Wai Hong On 21 September 2017, the SC filed On 16 March 2018, all 7
and market • Lo Ga Lung a civil suit against the 7 defendants. defendants entered into a
rigging • Toh Pik Chai The SC sought, among others: settlement with the SC when they
transaction • Ling Pik agreed without admission or denial
Ngieh • A declaration that the of liability to settle the claim that
• Stock market • Ng Soo Tian defendants had engaged in the SC had initiated against them:
manipulation • Chan Kok false trading and market rigging
• Chai Shou transactions in respect of APLI • The defendants agreed to
Wei shares from 7 November 2006 pay a settlement sum of
to 9 November 2006; RM2,154,672.13 being the
• A declaration that the unlawful gains from the false
defendants had engaged in trading, market ringging and
stock market manipulation in market manipulation.
respect of APLI shares from
7 November 2006 to • A civil penalty of RM200,000.
9 November 2006;
• An order that all the assets and
properties of each of the
defendants be traced and/or
followed, and thereafter paid
over to the SC;
• A declaration that all profits
earned by each of the
defendants by reason of their
false trading and market
rigging transactions and stock
market manipulation of APLI
shares are held in constructive
trust for the benefit of the
affected investors;
• General and/or aggravated
and/or exemplary damages
against all the defendants;
• Special damages;
• Civil penalty of RM1 million
against each of the defendants
for the breach of section 84
and 85 of the SIA;
• Interest;
• An injunction to restrain each
defendant, whether by
themselves, their agents,
servants or otherwise
howsoever, from trading in any
counter on Bursa Malaysia for
a period of 5 years;
• An order that each defendant
be barred from being a director
of any PLC for a period of 5
years; and
• Costs.

200 | PART 5 »» STATEMENTS, STATiSTiCS ANd ACTiviTiES

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