General Announcement

20/05/2004

CIMB BERHAD ("CIMB" or "The Company") - KUALA LUMPUR SESSIONS COURT SUMMONS NOS 2-63-156 & 160-97 & 2-62-188-97 PUBLIC PROSECUTOR VS. 1. CREDIT LYONNAIS SECURITIES (S) PTE LTD ("CLSS") 2. CIMB SECURITIES SDN. BHD. ("CIMBS") 3. NG WAI HONG ("NWH")

CIMB BERHAD

Type

Announcement
SubjectCIMB BERHAD ("CIMB" or "The Company") - KUALA LUMPUR SESSIONS COURT SUMMONS NOS 2-63-156 & 160-97 & 2-62-188-97
PUBLIC PROSECUTOR VS. 1. CREDIT LYONNAIS SECURITIES (S) PTE LTD ("CLSS")
2. CIMB SECURITIES SDN. BHD. ("CIMBS")
3. NG WAI HONG ("NWH")

Contents :

We refer to the above and the announcement made by CIMB to Bursa Malaysia on 17 May 2004.


CIMB wishes to announce that on 20 May 2004, the Sessions Court at Kuala Lumpur heard the plea in mitigation by Counsel and imposed fines as follows:

(i) A fine of RM400,000 each for CLSS and CIMBS; and
(ii) A fine of RM200,000 for NWH.

CIMBS is extremely dissatisfied with the outcome of this case and will appeal against it. CIMBS is of the considered view that this decision will have far-reaching implications for the Malaysian securities industry and the capital market at large particularly as regards to the extent to which licensed dealers and licensed dealers representatives have to ascertain, before shares are sold, whether the selling client has the requisite shares.

CIMBS and NWH paid the fines imposed at the Kuala Lumpur Sessions Court today.

This announcement is dated 20 May 2004.


Announcement Info

Company NameCIMB BERHAD  
Stock Name CIMB
Date Announced20 May 2004  
CategoryGeneral Announcement
Reference NoCC-040520-67233

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