Two others, Pauline Chee Yuet Fang and Tan Yee Chee, claimed trial to abetting Yeow.
Yeow, a former business partner of Mokhzani Mahathir, was charged under Section 188 (2) of the Capital Markets and Services Act.
The insider trading charge is in relation to the proposed merger of Kencana Petroleum Berhad and SapuraCrest Petroleum Berhad in 2011.
Mokhzani was then the chief executive officer of Kencana Petroluem Berhad while Yeow was a non-independent executive director and a member of the options committee of the company.
Yeow, 64, is said to have obtained 1.16 million units of Kencana Petroleum Bhd shares through the central depository system account of his secretary Paulene Chee.
He is said to have been in possession of information that was not publicly available and which, when made public, would have affected Kencana’s share price.
If found guilty, the trio could be jailed for up to 10 years and fined RM1 million.
Sessions Court Judge Zulqarnian Hassan fixed bail for Yeow at RM1 million and that for Chee and Tan, a remisier, at RM800,000 each.
He fixed August 11 for the case to be mentioned next.
Lawyers T. Sunther, Lim Kon Keen and Loong Chong Men represented Yeow, Chee and Tan respectively while Ros Mawar Rozain prosecuted.