What specific information was allegedly withheld during the share acquisition?

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The Specific Non-Public Information in the Karex Berhad Share Acquisition Case

The core of the insider trading allegation against the former chief financial officer of Karex Berhad centres on the non-disclosure of the company's strategic intention to enter the glove manufacturing and sales business. This information, prior to its public announcement, was allegedly in the possession of the accused, Goh Chok Siang, at the time of his acquisition of 150,000 company shares.
Alleged Possession of Material Information

Goh Chok Siang, aged 55, is accused of acquiring 150,000 units of Karex Berhad shares through a Central Depository System (CDS) account. This acquisition allegedly occurred while he possessed information not generally available to the public. The specific information in question was Karex Berhad's planned venture into manufacturing and selling gloves.
Potential Market Impact of the Information

The charge posits that this undisclosed intention to diversify into the glove market would be considered material by a reasonable person. Such information, if publicly known, could reasonably be expected to have a significant effect on the price or value of Karex Berhad's shares. The alleged offence took place at Bursa Malaysia Securities Berhad, Exchange Square, Bukit Kewangan, on July 22, 2020.
Legal Framework and Proceedings

The charge against Goh is framed under Section 188(2)(a) of the Capital Markets and Services Act 2007 (Act 671). This section carries a potential penalty of up to 10 years in prison and a fine not exceeding RM1 million upon conviction, as stipulated by Section 188(4) of the same Act. The Sessions Court has set July 10 for further mention, with bail granted at RM90,000 with one surety.

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What specific information was allegedly withheld during the share acquisition?

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