The Malaysia Securities Commission said the Federal Court dismissed former Patimas Computers Berhad executive director Dato’ Ng Back Heang’s application for leave to appeal in an insider trading case. The ruling leaves in place the Court of Appeal’s unanimous decision of 2 September 2025, which had affirmed the High Court’s 2022 finding that Ng was liable for insider trading in Patimas shares. The Federal Court also awarded RM50,000 in costs to the Malaysia Securities Commission. The case stems from a civil action the Malaysia Securities Commission filed in 2020 under section 188(2)(a) of the Capital Markets and Services Act 2007. It alleged that Ng disposed of 16.5 million Patimas shares between May and July 2012 while in possession of material non-public information relating to audit queries on suspicious transactions between Patimas and its top debtors, which had been raised by the company’s external auditor with management. Patimas later announced to Bursa Malaysia on 31 July 2012 that it could not issue its annual audited financial statements for the period from 1 January 2011 to 31 March 2012 because of unresolved significant audit queries. In dismissing the leave application, the Federal Court held that the questions raised had already been answered in Dato’ Sreesanthan Eliathamby v Securities Commission on 8 April 2025, so the threshold under section 96(a) of the Courts of Judicature Act 1964 was not met. The High Court had previously ordered Ng to pay RM2.04 million, comprising RM1.24 million in disgorgement, a RM700,000 civil penalty and RM100,000 in costs, and barred him from serving as a director of any public listed company for five years.

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