Wednesday, June 16, 2010

SC Gets Injunction Against Ishak

The drama continues...

  • SC gets injunction against Ishak
    Written by Surin Murugiah
    Wednesday, 16 June 2010 16:54

    Securities Commission Malaysia (SC) has obtained an ex-parte injunction to refrain Datuk Ishak Ismail from dealing with RM10.2 million, proceeds from his disposal of about 58.7 million shares of Kenmark Industrial Co (M) Bhd.

    In a statement Wednesday, June 16, the SC said the Kuala Lumpur High Court also ordered Ishak to furnish full and complete details of his assets, whether in Malaysia or elsewhere, within four days.

    The SC said it sought the injunction following its investigations into suspected breaches of securities laws by Ishak.

    Investigations in the meantime are actively being pursued on possible breaches of securities laws within Kenmark, especially with respect to its previous board, management and key shareholders, it said.

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