Former Malaysian Merchant Marine exec charged with insider trading

Former Malaysian Merchant Marine exec charged with insider trading

Kuala Lumpur : The former deputy executive chairman of Malaysian Merchant Marine Berhad (MMM) has pleaded not guilty to three counts of insider trading.

Datuk Ramesh Rajaratnam was involved in disposing of a total of 10.2m MMM shares on three separate occasions in early 2010.

The judge allowed Ramesh bail of RM200,000 with one surety and to surrender his international passport to the court.

The offences carry a punishment of an imprisonment term of up to 10 years and a fine of more than RM1m.

MMM is a Malaysia-based investment holding company engaged in sea transportation and the provision of shipmanagement services. The company was delisted in 2011 due to its weak financial situation.

Katherine Si

Having majored in English Katherine started out at news portal ShippingChina.com where she rose to become News Editor. In 2008 she moved to work with Sam Chambers and has since held numerous positions including China correspondent for Seatrade magazine. Katherine is in touch with Chinese owners and yards on a daily basis and has had many prestigious news scoops reporting China’s fast evolving maritime scene.

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