KUALA LUMPUR, April 7 — The High Court today ruled that the Securities Commission Malaysia had successfully proven its claim in a civil suit against Datuk Raymond Yap Wee Hin, a former deputy chairman of Patimas Computers Bhd , for insider trading.
In addition, Yap was also ordered to pay the SC a civil penalty of RM1 million and is barred from being a director of any public listed company for a period of five years, starting April 7, 2022.In a suit filed in 2020, the SC claimed that Yap had breached Section 188 and of the Capital Markets and Services Act 2007 when he disposed of a total of 43.82 million Patimas shares held by Law Siew Ngoh, the former managing director of Patimas, from June to July 2012.
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