KUALA LUMPUR: Former executive director of Kencana Petroleum Berhad, Yeow Kheng Chew and two others, were today charged in the Sessions Court for insider trading and abetment.
Yeow, 64, claimed trial to insider trading while Paulene Chee Yuet Fang, 55, and her remisier Tan Yee Chee, 46, pleaded not guilty to abetment charges in relation to the proposed merger of Kencana Petroleum Berhad and SapuraCrest Petroleum, which involved 1,159,000 units of Kencana Petroleum Berhad shares.
They were accused of committing the offences at Bursa Malaysia Securities Berhad, Exchange Square, Bukit Kewangan near here, on July 8, 2011.
Judge Zulqarnain Hassan fixed bail at RM1 million in two sureties for Yeow, while Chee and Tan were given RM800,000 bail, each with two sureties.
Yeow was represented by Sunder Thulasi and Stanislaus Vethanayagam, with Lim Kon Keen and Chong Loong Men appearing for Chee and Tan, respectively.
Deputy public prosecutor Roz Mawar Rozain, appeared for the prosecution.
Case management will be held on Aug 11, where the court will fix trial dates and document submissions.