KUALA LUMPUR: The Court of Appeal has dismissed appeals by Wong Shee Kai, also known as Ricky Wong, Teh Sew Wan and Wong SK Holdings Sdn Bhd against a High Court injunction freezing up to RM169.2mil of their assets and properties.
The Securities Commission Malaysia (SC) said the appellate court on Monday also dismissed the appellants’ bid to set aside an earlier ex parte injunction granted by the High Court on May 8, 2020.
The appellants were ordered to pay RM200,000 in costs to the SC.
On April 28, 2022, the High Court granted an inter partes injunction to freeze the appellants’ assets and properties worth up to RM169.2mil, pending the determination of a civil suit filed by the SC.
The injunction order also prohibits any person from knowingly assisting or permitting any dealings involving the appellants’ assets and properties.
The suit was filed by the SC against the appellants in 2020 over alleged securities fraud contraventions under Section 179 of the Capital Markets and Services Act 2007 (CMSA) involving Bright Packaging Industry Bhd.
The trial is ongoing at the Kuala Lumpur High Court and is scheduled to resume on Sept 1, 2026.
The appeals were dismissed by a three-member bench comprising Justices Datuk Ravinthran N. Paramaguru, Datuk Dr Choo Kah Sing and Datuk Leonard David Shim.
The SC was represented by Mohd Hafiz Mohd Yusoff and Loo Kit Ming Keith, alongside SC’s appointed external counsel Datuk Lim Chee Wee and Kwan Will Sen from Messrs Lim Chee Wee Partnership.
Wong and WSK Holdings Sdn Bhd were represented by Tan Sri Muhammad Shafee Abdullah from Messrs Shafee & Co while Teh was represented by Tan Sri Cecil W. M. Abraham from Messrs Cecil Abraham & Partners.
The SC said Wong remains at large and is also wanted in connection with criminal charges under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 and the CMSA.
The regulator urged members of the public with information on his whereabouts to contact the SC.