Friday 29 Mar 2024
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KUALA LUMPUR (Nov 27): Supermax Corp Bhd shares fell in early trade this morning after its group managing director Datuk Seri Stanley Thai Kim Sim was sentenced to a five-year jail term and fined RM5 million for insider trading.

At 9am, Supermax fell 22 sen to RM1.87 with 799,500 shares done.

The Sessions Court convicted Thai, who was formerly the  managing director of APL Industries Bhd (APLI) along with former remisier Tiong Kiong Choon. He was convicted of communicating non-public information between Oct 26, 2007 and Oct 29, 2007 to Tiong.

Supermax said the court has granted a stay of execution and an appeal has been filed against the conviction and sentence.

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