KUALA LUMPUR:The High Court today set aside the five-year jail term and RM5 million fine imposed on APL Industries Berhad (APLI) chief executive officer Datuk Seri Stanley Thai for insider trading.
Judicial Commissioner Datuk Azhar Abdul Hamid made the decision after allowing an appeal filed by Stanley Thai, whose real name is Thai Kim Sim, 60, against the conviction and jail sentence as well as the fine.
Apart from Thai, the court also set aside the conviction, five-year jail sentence and RM10 million fine on another appellant, remisier Tiong Kiong Choon, 60, after finding their conviction unsafe.
“After listening to the arguments by both parties, I find myself persuaded by accused submissions, the conviction and sentence, therefore are set aside, fine to be refund to both accused,” Azhar said.
Thai was represented by counsel Shamsul Sulaiman while Tiong was represented by counsel Datuk Mohd Yusof Zainal Abiden. Securities Commission deputy public prosecutor Mohd Hafiz Mohd Yusoff appeared for the prosecution.
The two men appealed against the conviction and sentence imposed by the Sessions Court on Nov 24, 2017, after finding them guilty of their respective charges.
Thai was charged with communicating to Tiong a non-public information on the value of APLI's shares on Oct 26 and 29, 2007, while Tiong was charged with disposing of 2,205,500 and 4,003,000 units of the rubber glove manufacturing company shares from the Central Depository System account of two individuals, while in possession of the same non-public information, hence affecting the value of shares.
They were charged under Section 188(3)(a) and 188(2)(a) of the Capital Markets and Services Act 2007, which carries a maximum jail term of 10 years and a fine of not less than RM1 million.
-- BERNAMA
Bernama
Tue Sep 29 2020
The High Court today set aside the five-year jail term and RM5 million fine imposed on APL Industries Berhad (APLI) chief executive officer Datuk Seri Stanley Thai for insider trading. - BERNAMA
Dialog Anak Muda: Belanjawan 2025: Macam mana ok?
Rasionalisasi subsidi RON95, kadar baharu gaji minima dan pemerkasaan TVET antara tumpuan dalam pembentangan Belanjawan 2025. Analisis isu-isu ekonomi diteruskan dalam Dialog Anak Muda 8.30 malam ini.
AWANI Tonight: Belanjawan 2025: What are the hits and misses
Bait al-Amanah's Benedict Weerasena shares his thoughts on the hits and misses of Budget 2025, which sees an allocation of RM421 bil, a 3.3% increase from the previous year.
AWANI Tonight: Key highlights from Belanjawan 2025
Key highlights from Belanjawan 2025, which includes increased allocations for Sumbangan Tunai Rahmah (STR), tax reliefs for first home buyers, and cash aid for singles, among other reforms.
PDRM pastikan insentif Belanjawan 2025 dimanfaatkan sepenuhnya - KPN
PDRM akan memastikan semua perkara yang diumumkan dalam Belanjawan 2025 untuk pasukan keselamatan itu, akan dimanfaatkan sepenuhnya.
AWANI Tonight 18 Oct 2024
#AWANITonight with @_farhanasheikh
1. Belanjawan 2025: PM unveils record RM421 bil expenditure
#AWANIEnglish #AWANINews
1. Belanjawan 2025: PM unveils record RM421 bil expenditure
#AWANIEnglish #AWANINews
It's About YOUTH: Rethinking the workplace for the younger generation
Celine Ting (@celinetingkl) from OpenAcademy and Anas Hayyan (@anashayyan) from Asian Strategy & Leadership Institute (ASLI) discuss strategies for retaining and developing today's workforce, with a focus on meeting Gen Z's expectations while boosting productivity. #ItsAboutYOUth
345,000 rakyat Palestin di Gaza berdepan krisis kebuluran pada musim sejuk ini - PBB
Terdapat peningkatan ketara daripada 133,000 individu yang kini diklasifikasikan sebagai mengalami "krisis ketidakjaminan makanan."
Dua lelaki ditahan bantu siasatan penyeludupan warga Myanmar
Dua lelaki itu ditahan bagi membantu siasatan mengikut Seksyen 26J Akta Antipemerdagangan Orang dan Antipenyeludupan Migran 2007 (Akta 670).
Belanjawan 2025: Peruntukan RM5.8 bilion langkah penting perkukuh ATM - PAT
Peruntukan sebanyak RM5.8 bilion untuk perolehan aset strategik serta kerja penyelenggaraan dan pembaikan dilihat sebagai langkah penting dalam usaha memperkukuh Angkatan Tentera Malaysia (ATM).
Kes pukul: Dia rakyat beta, beri keadilan sekarang - Tengku Hassanal
Tengku Mahkota Pahang dalam kemas kini di Instagram Story bertitah, keadilan bukan sahaja perlu perlu dilaksanakan, tetapi ia juga mesti dilihat dilaksanakan.
Saham Supermax melonjak 6.9 peratus
Saham Supermax melonjak, selepas Ketua Pegawai Eksekutifnya, Stanley Thai memohon maaf secara terbuka kepada Perdana Menteri Malaysia, Datuk Seri Najib Tun Razak.