SC charges for­mer di­rec­tors of Pa­ti­mas

The Sun (Malaysia) - - SUNBIZ -

PE­TAL­ING JAYA: The Se­cu­ri­ties Com­mis­sion Malaysia (SC) has charged a for­mer man­ag­ing direc­tor and three for­mer ex­ec­u­tive di­rec­tors of Pa­ti­mas Com­put­ers Bhd with 10 counts of caus­ing wrong­ful loss to the com­pany.

The di­rec­tors charged are for­mer man­ag­ing direc­tor Law Siew Ngoh, 55; for­mer deputy ex­ec­u­tive chair­man Yap Wee Hin, 58; and for­mer ex­ec­u­tive di­rec­tors Robert Daniel Tan Kim Leng, 59, and Ng Back Heang, 62.

The di­rec­tors are said to have made pay­ments to­talling RM5.1 mil­lion between July and De­cem­ber 2010, for the pur­ported de­vel­op­ment of var­i­ous soft­ware for Pa­ti­mas when in fact they were not used for such a pur­pose.

The charges were read out be­fore Ses­sions Court judge Za­man Mohd Noor. All four claimed trial to the charges.

Law, Yap, Tan and Ng were im­posed a bail of RM200,000 with one surety and or­dered to sur­ren­der their pass­ports.

“This is the first time the SC is tak­ing crim­i­nal ac­tion for an of­fence un­der sec­tion 317A(1) of the Cap­i­tal Mar­kets and Ser­vices Act 2007,” the SC said in a state­ment yes­ter­day.

Un­der this sec­tion, an of­fi­cer of a listed cor­po­ra­tion or any of its re­lated cor­po­ra­tion, com­mits an of­fence if he does any­thing or cause any­one to do any­thing with the in­ten­tion of caus­ing wrong­ful loss to the listed cor­po­ra­tion or its re­lated cor­po­ra­tion.

At the ma­te­rial time, the of­fence was pun­ish­able with an im­pris­on­ment term not ex­ceed­ing 10 years and a fine not ex­ceed­ing RM10 mil­lion.

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.