SC Charges Two Individuals for Insider Trading of Ranhill Power Berhad Shares

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SC Charges Two Individuals for Insider Trading of Ranhill Power Berhad Shares

 The Securities Commission Malaysia (SC) today charged two individuals with insider trading offences under section 89E(2)(a) of the Securities Industry Act  1983.

Amran bin Awaluddin, 46, a former director of Ranhill Berhad and Ranhill Power Bhd (formally listed on Bursa Malaysia), was charged at the Kuala Lumpur Sessions Court for acquiring 309,100 units of Ranhill Power Berhad shares between 27 July 2007 and 11 September 2007 whilst in possession of material non-public information.

The SC alleged that the material non-public information referred to in the charges related to the proposed privatisation and de-listing of Ranhill Power Berhad which was announced on 11 September 2007.

Amran, who faces a total of 7 charges is said to have acquired the said shares through the account of Nooralina binti Mohd Shah. Nooralina, 40, faced seven charges for abetting Amran in the commission of the offences.

Amran and Nooralina claimed trial to the charges preferred. Sessions Court Judge Mat Ghani bin Abdullah set bail at RM 150,000 each for both Amran and Nooralina with one surety.

 

 SECURITIES COMMISSION MALAYSIA

Members of the Media may contact the Corporate Affairs Department at 03-62048305 (Lau Mei San), 03-62048265 (Delyana Nordin), 03-62048242 (Mohamad Lutfi Hakim), or fax no.: 03-62015078 or e-mail: [email protected]

 Background information:

The Securities Commission Malaysia (SC), a statutory body reporting to the Minister of Finance, was established under the Securities Commission Act 1993. It is the sole regulatory agency for the regulation and development of capital markets. The SC has direct responsibility for supervising and monitoring the activities of market institutions, including the exchanges and clearing houses, and regulating all persons licensed under the Capital Markets and Services Act 2007. More information about the SC is available on its website at www.sc.com.my. Follow SC on twitter at @SecComMy for more updates.

 

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