Sessions Court judge Mat Ghani Abdullah delivered the sentence after taking into account submissions by Low’s lawyers and the prosecution. “The accused is sentenced to five years in jail and fined RM5 million, in default of five years,” he ruled.

Low’s lawyer, Edmund Bon, told the court he has been instructed to appeal against the conviction and sentence. “The notice of appeal for the conviction has been filed and we will be filing for the appeal on sentence this week,” he said.

Judge Mat Ghani granted Low a stay of the sentence.

He imposed another RM1 million bail on Low.

Last month, the Sessions Court convicted Low of misleading the public on the company’s share price, 19 years ago.

In 1999, he was charged with instructing a Sime Securities Sdn Bhd representative to purchase Repco Holdings shares at any price from sellers on the Kuala Lumpur Stock Exchange, to create a false impression of the company’s share value.

He was accused of committing the offence at Sime Securities, Tingkat 21, Bangunan Sime Bank, Jalan Sultan Sulaiman, Kuala Lumpur, between 11am and 5pm on December 3, 1997.

The charge under section 84(1) of the Securities Industry Act 1983, read with section 88(b) of the same Act, carries a minimum fine of RM1 million and imprisonment of up to 10 years upon conviction.

On November 14, 2006, the Sessions Court acquitted Low at the end of the prosecution’s case.

On October 15, 2010, the High Court dismissed the prosecution’s appeal and affirmed the acquittal.

However, on February 28, 2013, the Court of Appeal allowed the prosecution’s appeal and ordered Low to enter his defence.