KUALA LUMPUR, June 10 — A former chief financial officer of Karex Berhad pleaded not guilty in the Sessions Court here today to a charge of acquiring 150,000 shares in the company while in possession of undisclosed inside information six years ago.

According to the charge, Goh Chok Siang, 55, allegedly acquired 150,000 units of Karex Berhad shares through a Central Depository System (CDS) account while having information that was not generally available to the public.

The information concerned Karex Berhad’s intention to venture into the manufacturing and sale of gloves, which, if disclosed publicly, a reasonable person would expect to have a material effect on the price or value of the company’s shares.

The offence was allegedly committed at Bursa Malaysia Securities Berhad, Exchange Square, Bukit Kewangan, on July 22, 2020.

The charge was framed under Section 188(2)(a) of the Capital Markets and Services Act 2007 (Act 671), punishable under Section 188(4) of the same Act, which provides for a maximum prison sentence of 10 years and a fine of up to RM1 million upon conviction.

Judge Izralizam Sanusi allowed the accused bail of RM90,000 with one surety and fixed July 10 for further mention of the case.

The prosecution was conducted by Securities Commission deputy public prosecutors Ng Chian Huey and Muhammad Izzat Fauzan, together with prosecuting officer Mark Rohan Mahadevan, while the accused was represented by lawyer Wong Chiang Kiat. — Bernama