Securities Law

Suruhanjaya Sekuriti Malaysia v. Dato’ Aminuddin bin Md Desa [2025] MLJU 1368

The Securities Commission Malaysia (SC) successfully sued Dato’ Aminuddin bin Md Desa, former CEO of Perbadanan Kemajuan Negeri Perak (PKNP) and Perak Corporation Bhd (PCB), for insider trading involving 1.14 million shares acquired while privatisation plans were non-public. The High Court found a breach of Section 188(2)(a) of the Capital Markets and Services Act 2007 (CMSA) and ordered him to pay RM2.46 million (threefold profit), a RM1 million civil penalty, costs and imposed a five-year ban from public-listed company leadership and securities trading. Mr. Benjamin Dawson and Ms. Eileen Othman represented the SC.