26th May 2026, theedgemalaysia.com, KUALA LUMPUR — The Securities Commission Malaysia (SC) on Tuesday said it has won a High Court appeal to reinstate a garnishee order against Goh Chin Liong, a former deputy managing director of WCT Holdings Bhd (KL:WCT), and Leong Ah Chai, a director of Ara Holdings Sdn Bhd, to enforce payment of RM5.83 million in judgement sums from a 2022 insider trading case.
In a statement on Tuesday, the SC said High Court judge Leong Wai Hong has allowed the SC’s appeal against a Dec 17, 2025 decision that had set aside the garnishee order, and instead made the garnishee order nisi final. The High Court also ordered both defendants to each pay costs of RM5,000 to the SC.
The decision allows the SC to seize funds directly from Goh and Leong after they failed to pay despite unsuccessful attempts to delay payment through the courts.
The SC said it will now proceed with steps to recover the judgement sum. The High Court had found both men liable for insider trading under the Capital Markets and Services Act 2007 following a full trial in 2022.
The case involved the sharing of confidential, non-public information about the cancellation of a Dubai race-course construction contract involving WCT and Arabtec Construction LLC, and trading in WCT shares while in possession of that information. At the time, Goh was WCT’s deputy managing director.
The court ordered both men to each pay RM2.54 million in disgorgement, RM300,000 in civil penalties, and RM75,000 in costs to the SC.
Both defendants appealed against the insider trading ruling and sought to delay payment of the judgement sum while the appeals were ongoing. However, their stay applications were rejected by both the High Court in October 2023 and the Court of Appeal in May 2024.
Despite this, the two men failed to pay the judgement sum demanded by the SC.
After the defendants failed to pay the judgement sum, the SC began garnishee proceedings in July 2025 to recover the money.
The High Court registrar initially granted a garnishee order nisi in August 2025, but later set it aside in December 2025 after an application by the defendants. The SC then appealed against the decision.
The enforcement action comes ahead of the main appeal filed by the defendants to completely overturn their 2022 insider trading conviction, which has been fixed for a hearing at the Court of Appeal on July 9.
The SC was represented by Ng Chian Huey and Adibah Saiful Bahri, alongside its external counsel, Messrs Benjamin Dawson. The defendants were represented by Messrs Jasbeer, Nur & Lee.
The “garnishee order nisi” was initially a temporary freeze/order. Now that the High Court has made it “absolute” (final), the SC can proceed to seize or collect those funds to satisfy the judgement debt.
