Chevalier (OA) International chairman Chow Yei-ching was accused at an insider trading tribunal yesterday of using privileged information to deal in shares of the telecommunications and property firm. Counsel for the tribunal Daniel Marash said Mr Chow was alleged to have dumped shares 'between April 26, 1993, and July 5, 1993, to avoid losses of approximately $5.3 million'. Mr Chow denied the allegation. The inquiry is examining the sale of 28.18 million Chevalier (OA) shares, or 4.5 per cent of the issued capital, by Capital Growth, which were registered in the name of Oklahoma Investments. Mr Marash said that Mr Chow 'personally gave specific instruction for sale of those shares' and that he was 'at all relevant times a beneficiary'. It is alleged that Mr Chow used privileged knowledge about losses the company was incurring to sell the stock while the price was high. On January 13, 1993, the company announced a $16.87 million interim trading loss for the six months to September 30, 1992. Before the announcement, its shares had been trading between 41 and 43 cents. In the week after the disclosure they dropped to 38 cents and in the two weeks after the disclosure plunged to 31 cents, the tribunal was told. The tribunal, before Mr Justice Michael Burrell, Ian McEvatt and Selwyn Mar, continues today.