A case of Little Crime overshadows Big Crime

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Aug 08 2007
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So, Megan Media Holdings Bhd (KLSE: MEGAN, stock-code 7101) executive chairman Datuk Mohd Adam Che Harun knew the worms are crawling out from the can and he decided to dispose in lightning speed a total of 6.26 million warrants of the company between April 25 and May 4, before the accounting irregularities are made public. If this is not a classic example of insider trading, I do not know what is.

According to The Edge, a filing to Bursa Malaysia on Aug 3 showed the executive chairman obviously knew about the irregularities within Megan’s subsidiaries – Memory Tech Sdn Bhd and MJC (Singapore) Pte Ltd when he sold the block of warrants on the open market via five transactions, which saw his warrants holdings in Megan Media being reduced to 63,700 units or 0.09%.

Little Crime vs Big CrimeLooking forward, what will the authorities do against this individual who was suppose to protect and bring value to shareholders but acted otherwise? Would the authorities issue some sort of legal actions to prevent him from flying out of the country? If not, why not? If there’s a case (obviously there is) against this executive chairman, then what is holding the authorities back? Waiting for permission from the highest authority who might be tens of ladders up the hierarchy in the chain of power?

But then such insider trading might be viewed to be less dangerous and of no public concern compares to the 19-year-old boy who lost but forgotten his identity card (IC) number and was put in prison for more than 6 months. Perhaps it’s true that you should commit a big (the bigger the better) crime instead of some little minor crimes. Furthermore the bigger the crime, the more respect the authorities might have on you.

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Thanks for the article.

You are right. Better to commit a big crime than a small one, at least no jail term for the former.

I indeed very much angry what have been happening to our Malaysian society, sort like they (the hopeless ruling government) don’t really care about us any no more.

I wish I can do something for that. Well, at least now I know where shall I cast my precious vote in the coming election.

Stocktube, keep it up writing good articles. I, not only enjoy your thoughts on stocks but also the socio-political articles.

hello mr tee,

glad to know my articles could be of use to you … also glad to know you’ll vote “wisely” on the coming general election …

hope there’s still hope for the 20+ million population in malaysia …


Very good article. Good work. I think the main point is that one has money to hire lawyer & one don’t! 🙂

thanx zentrader … that’s exactly the point … hope all the readers will think twice about committing “crime” …


well said and i appreciate you highlighting the injustice. Will the Authorities act accordingly?

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