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Dear Valued Customers,

We wish to bring to your awareness that trades that result in No Change in Beneficial Ownership (NCBO)* are in non-compliance of Section 175 of Capital Market and Services Act 2007 (CMSA). Please be mindful when placing your orders to avoid any NCBO trades.

*Section 175 of the CMSA - False Trading /Market Rigging
This involves matched transactions where the buyer and seller are the same i.e. either involving the same Central Depository System (CDS) account or "passing around" a specific group of CDS accounts. Transactions result in no change in beneficial ownership (NCBO).
Note: Essentially, the law provides that a person shall not create, or cause to be created, or do anything that is calculated to create, a false or misleading appearance of active trading in any securities on a stock market in Malaysia or a false or misleading appearance with respect to the market for, or the price of, any such securities."

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