The Securities Commission Malaysia (SC) has charged former Karex Bhd Chief Financial Officer Goh Chok Siang with insider trading for allegedly acquiring shares while in possession of material non-public information.
According to SC, Goh was charged at the Kuala Lumpur Sessions Court under Section 188(2)(a) of the Capital Markets and Services Act 2007, accused of purchasing 150,000 Karex shares on July 22, 2020, based on undisclosed information.
The SC alleged the information related to Karex’s intention to venture into the manufacturing and sale of gloves.
Goh claimed trial before Sessions Court Judge Izralizam Sanusi and he was granted RM90,000 bail with two local sureties and ordered to surrender his passport, as well as report monthly to the SC’s investigating officer pending trial.
If convicted, he faces up to 10 years’ imprisonment and a minimum fine of RM1 million.
