Fur­nished false info re­lat­ing to Me­gan Media’s rev­enue to Bursa Malaysia

New Straits Times - - News -


SE­CU­RI­TIES Com­mis­sion Malaysia (SC) yes­ter­day won a case against for­mer ex­ec­u­tive chair­man of Me­gan Media Hold­ings Bhd for sub­mis­sion of false in­for­ma­tion. The Ses­sions Court here sen­tenced Datuk Dr Mohd Adam Che Harun, 73, to 18 months’ jail and a RM300,000 fine in de­fault of one year’s im­pris­on­ment, for fur­nish­ing false in­for­ma­tion to Bursa Malaysia re­lated to the rev­enue of Me­gan Media in its quar­terly re­sults for the fi­nan­cial pe­riod that ended on Jan 31.

SC, in a state­ment, said the false in­for­ma­tion re­lated to Me­gan Media’s rev­enue amount­ing to ap­prox­i­mately RM306 mil­lion.

“In sen­tenc­ing the ac­cused, Ses­sions Court judge Tuan Zulqar­nain Has­san viewed the of­fence as se­ri­ous and held that the ac­cused should re­frain from pro­vid­ing such false in­for­ma­tion to Bursa Malaysia. The judge also held that it is im­por­tant for in­vestors to have con­fi­dence in the cap­i­tal mar­ket.”

The of­fence, un­der Sec­tion 122B, read to­gether with 122(1) of the Se­cu­ri­ties In­dus­try Act 1983, car­ries a penalty of not more than RM3 mil­lion or jail not ex­ceed­ing 10 years, or both.

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