KUALA LUMPUR, 11 Oct 2017:
A married couple pleaded not guilty in three sessions courts here yesterday to 10 counts of insider trading and abetment involving 851,600 units of shares worth RM2.2 million in 2006.
Maybank Investment’s former head of equity Goh Keng Huat, 47, made the plea after the charges were read before judge Hasbullah Adam, judge Azman Ahmad and judge Syed Faisal Syed Amir.
Goh was charged with acquiring 851,600 units of Road Builder (M) Holdings Bhd’s shares through his wife’s Central Depository System account – while in possession of information pertaining to the proposed takeover of Road Builder (M) Holdings Bhd by IJM Corporation Bhd, and knowing the information was not publicly available because it was believed to have a material effect on the value or price of the shares.
The father of two is alleged to have committed the offences at Bursa Malaysia Securities Bhd, Exchange Square, Bukit Kewangan, here between 4 Sept 2006 and 16 Oct 2006.
He was charged under Section 89E(2)(a) of the Securities Industry Act 1983 and punishable under Section 89E(4) of the same Act – which carries a fine of not less than RM1 million and imprisonment of up to 10 years, upon conviction.
Goh’s wife Wee Siew Ling, 45, was charged with abetting her husband in commission of the offences at the same time, date and place.
She was charged under Section 122C(c) of the same Act and punishable under Section 89E(4) of the same Act – which carries a fine of not less than RM1 million and imprisonment of up to 10 years.
Earlier, deputy public prosecutor V. Shoba and prosecuting officer Ng Chian Huey from the Securities Commission proposed bail of RM700,000 with two sureties for each of the accused.
“Both the accused are now living in Melbourne, Australia and it is feared that they will not show up in court because they had just been arrested two days ago in Singapore after a warrant of arrest was issued in Dec 2015,” Shoba said.
The couple, who were represented by lawyer Francis Ng Aik Guan, were allowed bail at RM500,000 with two sureties each.
The court set Dec 6, for mention.
– Bernama