From Forbes:
Extract:
Malaysian tycoon Bill Ch’ng Chong Poh, the former chief executive of Malaysia Pacific Corporation, had a dream. Long before Iskandar became Asia’s hottest property for real estate developers in Singapore, Malaysia and beyond, he bought 638 acres in the area. An architect by training, he conjured up a blueprint for a 4-million-square-foot development with an international exhibition center, resorts, a cultural showcase and even a cowboy-themed factory outlet mall replete with a sheriff’s office and stagecoach rides.
On Jan 10, the Securities Commission of Malaysia took him to task for his “cowboy” style—running roughshod over shareholders—and filed 58 charges of insider trading against him. He allegedly acquired the shares over three months in mid-2008, ahead of a joint venture with the state-run Amanah Raya Bhd for undertaking his dream Iskandar project. Ch’ng has pleaded not guilty. Repeated phone calls to his office went unanswered.
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