How has the legal process for Low Thiam Hock unfolded since 1997?

Question

Accepted Answer

The High Court Will Decide on January 27 Regarding Low Thiam Hock's Appeal on Stock Market Manipulation Conviction

The High Court has scheduled January 27 to deliver its decision on the appeal lodged by Low Thiam Hock, the former executive chairman of Repco Holdings Berhad. This appeal pertains to his conviction and subsequent sentencing for attempting to manipulate the stock market in 1997. Low was initially found guilty by the Sessions Court on February 29, 2016, and sentenced to five years imprisonment along with a RM5 million fine for his role in manipulating the share price of Repco Holdings Berhad. The court granted him a stay of execution while his appeal is pending, and his bail was increased from RM300,000 to RM1.3 million.
Initial Charge and Offense Details

Low Thiam Hock was first charged in 1999 with instructing a representative of Sime Securities Sdn Bhd to purchase shares of Repco Holdings. This instruction involved absorbing any offer price from stock sellers on the Kuala Lumpur Stock Exchange, an action that was deemed to have created confusion regarding the shares' actual price. The specific offense occurred at Sime Securities in Kuala Lumpur, between 11 am and 5 pm on December 3, 1997.
Legal Framework and Sentencing Guidelines

The charge against Low was brought under Section 84(1) of the Securities Industry Act 1983, read in conjunction with Section 88(b) of the same legislation. This legal framework stipulates a minimum fine of RM1 million and a potential imprisonment term of up to 10 years for such offenses.
Procedural History of the Case

The legal proceedings have seen several significant developments since the initial charge. Low was initially acquitted by the Sessions Court on November 14, 2006, without his defence being called. However, the prosecution appealed this decision. Subsequently, on October 15, 2010, the High Court dismissed the prosecution's appeal. This outcome led the prosecution to further appeal to the Court of Appeal. It was the Court of Appeal that ultimately ordered Low to enter his defence at the Sessions Court, leading to the conviction and sentencing in 2016.

Reading history

Hide →

This history is cleared when the page is closed.

How has the legal process for Low Thiam Hock unfolded since 1997?

Loading

Was this article helpful?

Helpful

Not helpful

Report an issue

1

0

0

Share with friends