Bursa M’sia takes action against dealer

KUALA LUMPUR: Bursa Malaysia Securities Bhd has publicly reprimanded, fined RM100,000 and ordered to strike off Goh Hong Lim for engaging in manipulative dealing activities in the securities of Tomei Consolidated Bhd.
Goh at the material time of the breach, was a commissioned dealer's representative of HwangDBS Investment Bank Bhd at its Taman Tun Dr Ismail, Kuala Lumpur branch.
As a dealer's representative Goh was obligated to carry out his duties efficiently, fairly and in a manner which contributed to the maintenance of a fair and orderly market, as well as observe the professional standards of integrity.
"Bursa Malaysia Securities places a strong emphasis on the need to maintain a fair and orderly market and will not tolerate any acts or practices which could lead to false trading, manipulative activities and/or compromise the integrity of the market," it said in a statement yesterday.
It added that it will not hesitate to take appropriate action against anyone who engages in such misconduct including striking off a registered person from the register and imposition of fines.