Read the full judgment text of CACC 000612/1996 on BabelCite. This Court of Appeal judgment was delivered on 27 August 1997.
1. The applicant was a speculator and well connected in stock and share trading. He had procured placements for some 220 million newly issued shares of Hongkew Holdings Ltd. (Hongkew), a Malaysia based company which was publicly listed in Hong Kong. Sunny Tan Keng-kooi (Tan) was a Director of Hongkew and Lim Hun-beng (Lim) was its Chairman. At the end of 1989, the applicant approached Tan with an investment prospect for a block of 10 million shares of Kee Shing (Holdings) Ltd. (Kee Shing).