Malaysia's Supermax shares slide after founder convicted of insider trading

Kuala Lumpur

SHARES in Malaysia's Supermax Corp Bhd, the world's second biggest maker of rubber gloves, tumbled sharply on Monday after its founder was convicted of insider trading concerning another company that he used to head, and sentenced to five years in jail.

Group managing director Stanley Thai, accused of communicating non-public information about APL Industries Bhd in 2007 when he was chief executive of the firm, has appealed both the decision and sentence, Supermax said.