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Author: newbie8080   |   Latest post: Tue, 20 Oct 2020, 10:54 PM

 

SUPERMAX: Share price pares loss after High Court overturns ex-MD Stanley Thai’s guilty verdict

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SUPERMAX: Share price pares loss after High Court overturns ex-MD Stanley Thai’s guilty verdict

 

What's next?

Share Price to Surge ???

 

Supermax Corp Bhd pared its loss today after the High Court overturned the Session Court’s conviction of its former managing director (MD) Datuk Seri Stanley Thai Kim Sim for insider trading in relation to shares in APL Industries Bhd (APLI).

 

 

The counter had earlier fallen 6.5% to an intraday low of RM8.17, but then pared its loss to trade at RM8.60 as at 4.02pm, down 14 sen or 1.6% from yesterday's close, Its market capitalisation stood at RM22.1 million.

Earlier today, Judicial Commissioner Datuk Azhar Abdul Hamid reversed the Sessions Court’s guilty verdict against Thai made three years ago, as well as the conviction of former remisier Tiong Kiong Choon.

Azhar, in his decision, said he found the convictions “not safe” after hearing the submissions, and set aside the convictions and sentences.

 

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