KUALA LUMPUR: Bursa Malaysia has reprimanded, imposed a fine of RM409,000 and ordered to strike off Ong Kai Boon from the register as a registered person for engaging in manipulative trading activities of 11 counters
They were INIX Technologies Holdings Bhd, Inix warrants A, K-One Technology Bhd; Vivocom International Holdings Bhd (now known as Vinvest Capital Holdings Bhd); Gets Global Bhd, Bintai Kinden Corporation Bhd; Sino Hua-an International Bhd (now known as Techna-X Bhd), Solution Group Bhd, Melewar Industrial Group Bhd, Lion Industries Corporation and HPP Holdings Bhd.
Ong was at the material time of the breach a salaried dealer's representative of Kenanga Investment Bank Bhd at its principal office,
"Bursa Malaysia places strong emphasis on the need to maintain an orderly and fair market and will not tolerate any acts or practices which could lead to false trading, manipulative activities and/or compromise the integrity of the market.
"(We) will not hesitate to take appropriate and severe actions, including suspension/striking off a registred person from the register and imposition of fines which commensurate with the severity of the breach," it said today.