PETALING JAYA: Former CEO of Perbadanan Kemajuan Negeri Perak (PKNP) and Perak Corporation Bhd (PCB) Aminuddin Desa has been ordered to pay the Securities Commission (SC) RM2.46 million for engaging in insider trading.
The High Court ruled today that Aminuddin had breached the Capital Markets and Services Act 2007 when he acquired more than 1.4 million PCB shares between October 2013 and January 2014 while knowing that PKNP had proposed to privatise PCB.
A statement issued by the SC this afternoon said Aminuddin is also barred from holding positions as CEO or director of a public-listed company (PLC) as well as being involved in the management of a PLC or a subsidiary of a PLC for five years from today.
He is also barred from trading in any securities on Bursa Malaysia for five years.
Aminuddin has also been ordered to pay RM100,000 in costs. - FMT
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