Securities Commission (SC) recently filed a civil suit against a former non-executive director of Inti Universal Holdings Bhd, Teng Choon Kwang, and another person Tan Boon Hwa for alleged insider trading involving the shares of Inti in September 2007.
The SC said the suit was filed at the Kuala Lumpur High Court on Dec 30, where the two had allegedly breached of section 89E(2) of the Securities Industry Act 1983 (SIA).
They are alleged to have acquired a total of 305,000 of Inti shares between Sept 13 and 18, 2007 while in possession of material non-public information. Teng was then a non-executive director.
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The SC said the suit was filed at the Kuala Lumpur High Court on Dec 30, where the two had allegedly breached of section 89E(2) of the Securities Industry Act 1983 (SIA).
They are alleged to have acquired a total of 305,000 of Inti shares between Sept 13 and 18, 2007 while in possession of material non-public information. Teng was then a non-executive director.
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