KUALA LUMPUR(Nov 24): Supermax Corp Bhd said the court has granted a stay of execution and an appeal has been filed against the conviction and sentence of Supermax executive director and group managing director Datuk Seri Stanley Thai Kim Sim.

In a filing to Bursa Malaysia today, the group said it is business as usual for Supermax and that its management team is committed to delivering good business performance and profitability in the interest of the company and its shareholders.

"Supermax has been delivering consistent profits and dividends to shareholders since its listing on Bursa Malaysia Securities Bhd in 2001.

"In its recent first quarter ended Sept 30, 2017 (1QFY17) [released on Nov 21] Supermax's profit after tax rose by 42%. The management is confident of maintaining and improving the company's performance in the next few quarters ahead.

"The position of the business remains intact and the management stands strong in growing the business forward," it said.

Thai, the former chief executive officer of APL Industries Bhd (APLI), was convicted by the Kuala Lumpur Sessions Court today and sentenced to a five-year jail term and fined RM5 million for insider trading offences involving APLI shares.

Insider trading offences, under section 188 of the Capital Markets and Services Act 2007 (CMSA), carry a mandatory punishment of imprisonment not exceeding 10 years and a fine of not less than RM1 million.