The court will decide on Jan7 an application by high-profile businessman Soh Chee Wen to inspect relevant documents in the custody of the Securities Commission to assist him to prepare his defence in a share defrauding case.

Shah Alam sessions court judge Suraya Othman today fixed the date after hearing closing submissions by Soh's lawyer Francis Ng Aik Guan.

Soh is facing trial for two charges of allegedly defrauding the now defunct brokerage, Omega Securities Sdn Bhd, of RM521 million under Section 87A(a) of the Securities Industry Act 1983.

Ng submitted that it was for him to inspect the documents withheld by the SC to prepare their defence.

Disabled and paralysed

"We can't prepare the defence without all these particular information. We are disabled and we are paralysed to prepare our defence or even formulating the defence," Ng said.

In earlier hearings, Ng had contended that the prosecution should provide more information about the two charges against the bankrupt tycoon and clarify the definitions for word used, such as "crossing" and "contango transaction".

He also wanted the prosecution to either amend or provide more information regarding the two charges.

However, Deputy Public Prosecutor Abdul Karim Abdul Jalil yesterday said there is no law which requires the prosecution to provide defendants with a definition for words used in the charges.

Abdul Karim added, most of the SC's documents sought by the defence are the evidence which supports the charges against Soh.

'Contango transaction'

Ng also told the court today the charges levelled against Soh did not clearly state if the businessman was directly involved in the scheme to defraud Omega Securities.

"The prosecution only noted my client was directly involved with the purchase and sales of securities but they didn't showed he was directly involved in the scheme of defraud," Ng said.

Ng also touched on the meaning of the "contango transaction" allegedly undertaken by Soh, stating that the prosecution had not given any definition to that term.

"There is lack of particularisation. We don't comprehend the term 'contango', how can we particularise this?" stressed the counsel.

At the outset of the hearing last Monday, Ng had applied to the court to order the SC to release 11 categories of documents that will be useful to prepare Soh's defence.

On RM2 mil bail

Soh, who is currently free on a RM2 million bail, faces a minimum penalty of RM1 million and a jail term of 10 years upon conviction.

The businessman was a former business partner of Ling Hee Leong, the son of Transport Minister and MCA president Dr Ling Liong Sik in their business venture in Promet Bhd and Rekapacific.

Their close relation deteriorated when their business venture fell apart as a result of the 1997 recession.

Soh fled the country in 1999 when he was being investigated over his role in defrauding Omega Securities. This led to the SC to obtain a warrant of arrest against him and later to seek for Interpol's help through the Home Ministry.

But all this came to an end when Soh returned to the country in May this year to face the charges against him.