KUALA LUMPUR: Two former bank officers and a businessman were charged at four separate Sessions Courts today with acquiring one million units of shares while in possession of non-public information and insider trading.
Singaporean Ng Ee Fang, her husband businessman Daniel Yong Chen-I, 47, and Tan Giap How, 63, claimed trial to six counts today.
Before judges Datuk Zainal L. Salleh and Datuk Habibah Mohamed Yusof, Ng was charged with four counts of acquiring 1 million units of Hirotako Holdings Bhd shares.
She allegedly committed the offence through her husband, Daniel's Central Depository System account while in possession of non-public information on the proposed take-over by MBM Resources Bhd to acquire all the voting shares and outstanding warrants in Hirotako Holdings.
She was alleged to have committed the offences at Bursa Malaysia Securities Bhd, Exchange Square, Bukit Kewangan, here, between Oct 14, 2011, and Oct 20 the same year.
Ng's charge, under Section 188(2)(a) of the Capital Markets and Services Act 2007, carries imprisonment for a term of not exceeding 10 years and a fine of not less than RM1 million, if convicted.
She was allowed RM450,000 bail with one surety and was ordered to report to the investigating officer each month.
Meanwhile, before judge Azman Ahmad, Daniel was charged with allowing his wife Ng to effect the acquisition of the 1 million units of Hirotako Holdings shares in his Central Depository System account, an offence under section 29A of the Securities Industry (Central Depositories) Act 1991.
He was alleged to have committed the offence at the same place and time.
If convicted, he is liable to a fine not exceeding RM1 million or imprisonment not exceeding five years or both.
Azman allowed Daniel RM350,000 bail with one surety.
Before judge Hasbullah Adam, Tan was charged as an insider who had communicated non-public information to Ng regarding the proposed take-over offer by MBM Resources to acquire all voting shares and outstanding warrants in Hirotako Holdings.
He was alleged to have committed the offence at the same place on Oct 14, the same year.
Hasbullah allowed him RM150,000 bail and ordered the accused to surrender his passport to the court until the disposal of the case.
All the cases will be mentioned on April 16.
Securities Commission deputy public prosecutor V. Shoba and prosecuting officer Arif Adnan Zain prosecuted while lawyer Datuk Tan Hock Chuan represented Ng and Daniel, and counsel S. Ramesh represented Tan.