A former chief financial officer of condom manufacturer Karex Bhd was charged at the Sessions Court today with insider trading involving the company’s shares six years ago.
Goh Chok Siang, 54, was accused of acquiring 150,000 Karex shares on July 22, 2020, while allegedly in possession of material non-public information relating to the company’s plan to venture into glove manufacturing and sales.
He pleaded not guilty after the charge was read before Judge Izralizam Sanusi.
The offence, under Section 188(2)(a) of the Capital Markets and Services Act 2007, carries a maximum penalty of 10 years’ imprisonment and a fine of not less than RM1 million upon conviction.
The court allowed bail at RM90,000 with two local sureties.
Goh was also ordered to surrender his passport and report monthly to the Securities Commission investigating officer until the conclusion of the case.
Deputy public prosecutors Ng Chian Huey and Izzat Fauzan, together with prosecuting officer Mark Rohan Mahadevan, prosecuted the case, while Wong Chiang Kiat represented the accused.
