SC charges Leong with insider trading

KUALA LUMPUR: Securities Commission yesterday charged Datuk Vincent Leong Jee Wai with insider trading of Maxbiz Corp shares. He was charged with two counts of communicating material nonpublic information between November 2010 and January 2011 to Leong Wye Keong when he should have known that Wye Keong would tend to dispose of Maxbiz shares. The first charge relates to the decrease in Maxbiz shareholders’ equity, and the second charge concerns the classification of Maxbiz as a Practice Note 17 company.