Stockbroker charged with insider trading in Malaysia
The country's securities regulator brought the charges against Tiong Kiong Choon in relation to his sale of APL Industries shares while in possession of non-public information.
Malaysia’s Securities Commission yesterday charged Tiong Kiong Choon for insider trading offences.
He was charged for selling 6,208,500 APL Industries (APLI) shares while in possession of non-public information in relation to the audit adjustments proposed by APLI’s auditors.
These adjustments resulted in APLI reporting a higher loss amounting to RM21.1 million for the financial year ended June 30, 2007, as compared to the unaudited results of RM4.5 million for the same period.
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