Latest news with #SecuritiesCommission
New Straits Times
5 days ago
- Business
- New Straits Times
SC launches Hadith book series on sustainability, ethical sales transactions
KUALA LUMPUR: The Securities Commission (SC) has today launched the 40 Hadiths book series on sustainability and ethical sales transactions. The publications, launched during the 3rd SC Nadwah of Shariah Advisers in Islamic capital market (ICM), aim to enhance industry awareness and practical implementation of the Islamic perspective on sustainability and Islamic ethics in commercial transactions. It also marks a milestone in raising industry awareness on embedding the principles of Maqasid al-Shariah guidance in ICM, specifically in areas such as environmental stewardship, responsible business and trade practices. The SC chairman Datuk Mohammad Faiz Azmi said internalising the guidance encapsulated in these hadiths contributes to the development of a just, inclusive and sustainable economy. Mohammad Faiz said the SC is committed to making Maqasid al-Shariah a fundamental framework for business dealings in ICM. "The outcomes that we are witnessing today is one of the approaches towards ensuring Islamic financial products and services are designed and implemented in a way that promotes the welfare of society and the environment," he added. Meanwhile, the SC announced the establishment of the Maqasid al-Shariah task force for ICM (MaTF), that will drive and streamline adoption of the guidance across the Malaysian ICM. This includes identifying areas for strategic collaboration and innovation between regulatory bodies and industry players. Members of the task force include Bursa Malaysia Bhd, Malaysian Association of Asset Managers, Federation of Investment Managers Malaysia, Malaysian Investment Banking Association, Association of Islamic Banking and Financial Institutions Malaysia Islamic Banking and Finance Institute Malaysia and International Council of Islamic Finance Educators. Established in 2023, the SC Nadwah serves as a convening platform for intellectual discourse on applied Shariah knowledge sharing and charting the next wave of innovative Shariah solutions among Shariah advisers and market practitioners.
Borneo Post
22-05-2025
- Business
- Borneo Post
Sibu housewife loses RM447,300 to scam online investment scheme
Photo for illustration purposes only. SIBU (May 21): A housewife in her 60s here lost RM447,300 after falling victim to a non-existent online investment scheme that had promised high returns but delivered none. Sibu police chief ACP Zulkipli Suhaili said the woman lodged a police report on Tuesday after realising she had been duped following 33 bank transfers to five local accounts between April 16 and May 20. He related that the victim was first introduced to the scheme on Jan 11 through Facebook by a woman who called herself 'Ah Chong'. 'She was later added to a WhatsApp group named Programme VIP012, where another individual known as 'Amy' persuaded her to invest in a scheme under the name Malaysia JP Morgan Family Office. 'The victim was shown screenshots of high profits supposedly earned by other investors, which convinced her to make multiple payments through bank accounts provided by the suspects,' Zulkipli said in a statement today. He said the victim used an app called JPFO Max, where she could see her supposed investment grow to around RM800,000. However, when she attempted to withdraw the profits, she was told that it was not allowed as the investment was still ongoing and required additional capital. 'No returns were ever received. Realising she had been deceived, the victim finally filed a report,' said Zulkipli. He added police have opened an investigation paper under Section 420 of the Penal Code for cheating. He reminded the public to remain vigilant and avoid being lured by investment schemes promising unrealistically high returns. 'Always verify the legitimacy of any investment platform or company through Bank Negara Malaysia's website at or the Securities Commission at he stressed. He also encouraged the public to use the Investment Checker tool to verify suspicious phone numbers or bank accounts via For further information or assistance, contact the National Scam Response Centre (NSRC) on 997 or follow updates from @CyberCrimeAlertRMP and @JSJKPDRM on Facebook. investment scheme lead Sibu police Zulkipli Suhaili
Free Malaysia Today
21-05-2025
- Business
- Free Malaysia Today
Apex court dismisses ex-Patimas deputy chairman's bid to appeal
Raymond Yap had sought to challenge the Court of Appeal's unanimous decision on Nov 27, 2024 upholding the High Court's finding that he was liable for insider trading of Patimas shares in 2012. PETALING JAYA : The Federal Court today unanimously dismissed an application by former Patimas Computers Bhd deputy chairman Raymond Yap for leave to appeal against his liability for an insider trading offence committed in 2012. A three-member bench, led by Chief Justice Tengku Maimun Tuan Mat, together with Federal Court judges Vazeer Alam Mydin Meera and Lee Swee Seng, affirmed the earlier decisions of the Court of Appeal and High Court. The court ordered him to pay RM30,000 in costs to the Securities Commission (SC). Yap had sought to challenge the Court of Appeal's unanimous decision on Nov 27, 2024 upholding the High Court's finding that he was liable for insider trading of Patimas shares in 2012. The SC, which initiated the civil suit in 2020, alleged that Yap had breached Sections 188(2)(a) and (b) of the Capital Markets and Services Act 2007 by disposing of 43.8 million Patimas shares held by former managing director Law Siew Ngoh between June and July 2012. SC claimed that at the time, Yap was in possession of material, non-public information related to audit queries and issues regarding suspicious transactions between Patimas and its top debtors. 'The matter had been raised and discussed by Patimas's external auditor during a meeting with the company's management,' the commission said in a statement. On July 31, 2012, Patimas's board of directors announced to Bursa Malaysia that the company would not be able to issue its annual audited financial statements for the financial period from Jan 1, 2011 to March 31, 2012 due to unresolved significant audit findings/queries. The SC said following a full trial at the High Court, Yap was ordered to pay the commission a disgorgement of RM3.28 million, equal to three times the losses avoided by Yap as a result of the breach, and a civil penalty of RM1 million. Yap was also prohibited from being appointed as a director in any public-listed company for a period of five years, with effect from the date of the High Court judgment on April 7, 2022.
CTV News
20-05-2025
- Business
- CTV News
Regulator issues temporary order against Vancouver crypto business
A sign at the B.C. Securities Commission office in downtown Vancouver is seen on Dec. 28, 2024. (CTV News)
Free Malaysia Today
16-05-2025
- Business
- Free Malaysia Today
Ex-London Biscuits CEO charged over false statements
The Securities Commission said former London Biscuits CEO Liew Yew Chung pleaded not guilty to a total of 13 charges. KUALA LUMPUR : A former executive director and group CEO of the now-delisted London Biscuits Bhd has been charged with furnishing a false financial statement to the stock exchange and falsifying records of a listed company. In a statement, the Securities Commission said Liew Yew Chung pleaded not guilty to a total of 13 charges before sessions court judge Azrul Darus, Bernama reported. Liew is accused of having caused the furnishing of a false financial statement in August 2019 concerning the company's cumulative revenue amounting to RM285,985 in its third quarter financial report. He was also charged with 12 counts for allegedly instructing the creation of false sales transactions in the accounting records of London Biscuits between October 2018 and March 2019. The total value of the false transactions across all 12 charges amounted to more than RM2.3 million. Liew faces a penalty of up to 10 years' jail and a RM3 million fine if convicted. He was allowed bail at RM300,000, and was ordered to surrender his passport. London Biscuits, based in Johor, was a major biscuits and snacks manufacturer with products distributed in Southeast Asia and the Asia-Pacific region. It went into liquidation and was ordered to be wound up in 2020 after it defaulted on more than RM250 million in bank loans.
