Supermax active, down 1.17% after founder’s wife convicted of insider trading


(Aug 10): Supermax Corp Bhd shares fell 1.17% this morning after the Session Court yesterday convicted its group executive director Datin Seri Cheryl Tan Bee Geok — who is the spouse of Supermax’s founder and former executive chairman and group managing director Datuk Seri Stanley Thai — of insider trading offences involving APL Industries Bhd (APLI) shares.

At 9.05am, Supermax fell 5 sen sen to RM4.23 with 1.29 million shares done.

Supermax had said a succession plan is in place and that its business remains intact after the court decision.

APLI was one of the companies under the Supermax’s group of companies.

Supermax added that it is “business as usual” at the group and the management is confident of maintaining and improving the company’s performance in the next few quarters ahead.

Source: The Edge

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