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Repco's Low acquitted in share scandal case
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TSDarkmage12
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 Nov 16 2006, 12:42 AM, updated 19y ago
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QUOTE 15 Nov 2006
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KUALA LUMPUR: Former Repco Holdings Bhd executive chairman Low Thiam Hock was acquitted without his defence being called for over alleged manipulation of company shares nine years ago.
Sessions Court president Akhtar Tahir said the prosecution had failed to establish a prima facie case against "Repco Low".
He said the prosecution had also failed to prove that Low had instructed a representative of Sime Securities Sdn Bhd to buy Repco Holdings shares by taking up any offer prices of the shares by sellers on the Kuala Lumpur Stock Exchange.
This was allegedly calculated to create a misleading appearance with respect to the price of the company's shares on the KLSE.
Akhtar said it was also uncertain whether the accused himself was aware of the action of the securities company's representative in purchasing the shares at an offer price.
The judge said the charge would not be amended as that was the function of the prosecution.
Low, 45, from Kota Kinabalu, Sabah, is alleged to have committed the offence at the 21st floor of Sime Securities, Bangunan Sime Bank, on Jalan Sultan Sulaiman here between 11am and 5pm on Dec 3, 1997.
The offence, under the Securities Industry Act 1983, is punishable with a minimum fine of RM1 million and jail of up to 10 years.
what do you guys think? his company once defy gravity and he sure have ripped off many investors |
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vergas
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Nov 16 2006, 07:43 AM
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QUOTE(Darkmage12 @ Nov 16 2006, 12:42 AM) what do you guys think? his company once defy gravity and he sure have ripped off many investors A really sad outcome, hope the SC appeal will be accepted and the case at least will go on trial with defence need to be call. There is definately something wrong with the Repco case, it will be very bad if nobody get aquainted for it. I don't mean any ill with Low, but if nobody is found guilty, it shows that our enforcement is really lacking. |
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Frosty-Snowman
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Nov 16 2006, 09:55 AM
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It show that Repco Low has more money and he can buy his way out. Since our enforcement earn soo little as compare to any developed countries, money is nothing to Repco Low.
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TSDarkmage12
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Nov 16 2006, 02:08 PM
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QUOTE(Frosty-Snowman @ Nov 16 2006, 09:55 AM) It show that Repco Low has more money and he can buy his way out. Since our enforcement earn soo little as compare to any developed countries, money is nothing to Repco Low. I have to agree with you on that. He must be still doing this kind of manipulation on the market now  btw his company was once the most chase counter before the 1997 crisis right? |
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cherroy
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Nov 16 2006, 02:24 PM
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20k VIP Club
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QUOTE(Darkmage12 @ Nov 16 2006, 02:08 PM) I have to agree with you on that. He must be still doing this kind of manipulation on the market now btw his company was once the most chase counter before the 1997 crisis right? It is not considered the most chase but rather a star counter people called 'King of the share' since his company, Repco is the most expensive share more than RM2xx. |
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ts1
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Nov 16 2006, 02:46 PM
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200+ when that shares reached that price?
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TSDarkmage12
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Nov 16 2006, 04:08 PM
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QUOTE(cherroy @ Nov 16 2006, 02:24 PM) It is not considered the most chase but rather a star counter people called 'King of the share' since his company, Repco is the most expensive share more than RM2xx. IIRC the highest it ever touch was 143.50 .... when it was listed the price was less than 10.... it was chased all the way to this record dizzying height  anyone of you bought it back then? QUOTE(ts1 @ Nov 16 2006, 02:46 PM) 200+ when that shares reached that price? no it only reach 143.50.... btw when it was delisted it was 7.10 each share IIRC |
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owenwong84
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Nov 16 2006, 05:34 PM
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If the chairman is found guilty? can the investors get back their money?
My mom is one of the victims. Suppose to be investment now turns to debting. Hard earns money just diminish like tat. All thanks to Innosabah & this Repco. Untill now we are still paying the debts. Parents is already 60++ still working just for settling the debts. All the honeymoon no more.
Look at innosabah how much it worths now, even 1 pisang goreng also cannot buy.
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cherroy
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Nov 16 2006, 05:46 PM
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20k VIP Club
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QUOTE(Darkmage12 @ Nov 16 2006, 04:08 PM) IIRC the highest it ever touch was 143.50 .... when it was listed the price was less than 10.... it was chased all the way to this record dizzying height anyone of you bought it back then? no it only reach 143.50.... btw when it was delisted it was 7.10 each share IIRC May be my mistake, I only remember hundred something, oh, it should be Sungai Bagan that hit Rm2xx. since I remembered one stock ever touched Rm2xx. |
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TSDarkmage12
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Nov 16 2006, 06:51 PM
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QUOTE(owenwong84 @ Nov 16 2006, 05:34 PM) If the chairman is found guilty? can the investors get back their money? My mom is one of the victims. Suppose to be investment now turns to debting. Hard earns money just diminish like tat. All thanks to Innosabah & this Repco. Untill now we are still paying the debts. Parents is already 60++ still working just for settling the debts. All the honeymoon no more. Look at innosabah how much it worths now, even 1 pisang goreng also cannot buy. how to get back the money? he already keep it in an offshore account .... really sad this kind of things happen..... Fountain View also the same.... the chairman the his broker manipulated it then suddenly drop from 5.xx to less than 50 cents  QUOTE(cherroy @ Nov 16 2006, 05:46 PM) May be my mistake, I only remember hundred something, oh, it should be Sungai Bagan that hit Rm2xx. since I remembered one stock ever touched Rm2xx. only 1 stock ever touched 2xx? i know quite a lot did touch 1xx |
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edifgrto
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Nov 16 2006, 07:48 PM
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The news not really surprise me indeed. People like that, it's hard to catch him. I think still got many of these type of person exist.
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TSDarkmage12
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Nov 17 2006, 12:05 AM
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QUOTE(edifgrto @ Nov 16 2006, 07:48 PM) The news not really surprise me indeed. People like that, it's hard to catch him. I think still got many of these type of person exist. are you 1 of them ?  |
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edifgrto
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Nov 17 2006, 11:18 AM
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hehehe,.. when I'm so lucky and able to be Dato'. I'm not sure if I won't be anyone of them?! Like some people said, money could change a person. I'm really not till that stage yet.
This post has been edited by edifgrto: Nov 17 2006, 11:19 AM
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TSDarkmage12
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Nov 17 2006, 02:01 PM
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Repco Low doesnt have Dato'  but he can still do things like that |
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bumicomp
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Nov 17 2006, 02:20 PM
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Getting Started
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Malaysia's stock market is full of crabs like these.
Even worst is, when a chairman/CEO manipulate shares, SC will simply issue them a querry. If the answer is not satisfactory, then a pubic reprimand of RMxxxk. Still the fine is against the company not the CEO/director/chairman etc.
Very unfair coz they can do lots of things using proxy/nominee without being caught and stuff. SC only have power to querry & act against the company
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ts1
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Nov 17 2006, 03:20 PM
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SC only prosecute those who are "allowed" to b sue...the rest is history
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edifgrto
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Nov 17 2006, 04:35 PM
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QUOTE(Darkmage12 @ Nov 17 2006, 02:01 PM) Repco Low doesnt have Dato' but he can still do things like that I do know that... but this title bring much benefits that I dun know how to explain. Guess you understood too. When I commenting, i'm not referring Repco Low as the example. I meant in general!  |
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kaito11
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Nov 24 2006, 08:58 PM
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New Member
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I get to contact with Low Thiam Hock through 2nd/3rd person...Currently playing KBES... QUOTE(edifgrto @ Nov 17 2006, 04:35 PM) I do know that... but this title bring much benefits that I dun know how to explain. Guess you understood too. When I commenting, i'm not referring Repco Low as the example. I meant in general! |
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investmentlink
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Nov 24 2006, 11:10 PM
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they cannot catch him one...this is just a normal procedure to follow, they even no have the strong evidence to prove it! If they can put him into jail...i think market will strongly affected! No manipulator...market will like "died sea"!
Bursa also goreng is itself stock, but no one can UMA it. In possible Bursa issue UMA to BURSA...if yes...i can laugh until die! haha
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TSDarkmage12
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Nov 27 2006, 01:03 PM
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QUOTE(kaito11 @ Nov 24 2006, 08:58 PM) I get to contact with Low Thiam Hock through 2nd/3rd person...Currently playing KBES... earlier this year they were saying that he playing with Iris .... did he do that? |
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