COMMENT | Over two years from 2020, The Edge published a series of articles exposing the abnormal surge in penny stocks, highlighting how syndicates were manipulating share prices behind the scenes.

As its editor-publisher, Ho Kay Tat, later wrote, such manipulation threatens the orderly function of the stock market, damages Bursa Malaysia’s reputation, and causes substantial losses for retail investors.

While the volatile trading eventually subsided following regulatory warnings, many had already suffered heavy losses - losses that could have been far worse had the manipulation continued unabated.

Rather than being commended for its vigilance, The Edge found itself in the crosshairs of state power. Its editors were called in for police questioning, with authorities demanding the names of the reporters involved.

To ensure the journalists' safety, the articles were published without bylines, and the police were told the names would not be disclosed, not least given the chilling precedent of a senior Bursa surveillance officer who had been the victim of an acid attack.

In September 2022, two editors were...