Kuala Lumpur, 13 October 2011
INIX’s former CEO fined RM1.1 million for authorising false statement in prospectus
The Kuala Lumpur Sessions Court today convicted and fined former chief executive officer of Inix Technologies Holdings Berhad (INIX) for authorising the furnishing of false statements in the company’s prospectus and quarterly statements.
Jimmy Tok Soon Guan (Jimmy), 42, former CEO and Executive Director of INIX, was charged for authorizing the furnishing of false statements to Bursa, in relation to the revenue figures contained in INIX’s four quarterly reports on the unaudited consolidated results for the financial year ended 31 July 2006.
Jimmy was also convicted for the issuance of INIX’s prospectus which contained false information, pertaining to INIX’s revenue, for the six month financial period ended 31 January 2005.
He pleaded guilty to the offences under Section 122B(b)(bb) of the Securities Industry (SIA) 1983 and Section 55(1)(a) of the Securities Commission Act (SCA) 1993 and was fined RM400,000 (in default two years imprisonment) for the offence under Section 55 SCA and a total fine of RM700,000 (in default between 12 to 18 months imprisonment) for the four offences under Section 122B SIA.
On 29 September 2011, two former directors of INIX, Mok Chin Fan and Chong Kok Yai had pleaded guilty at the Kuala Lumpur Sessions Court, for the same offences under Section 122B SIA and Section 55 SCA and fined RM325,000 each. Normah binti Sapar, an Accounts Executive of the Company had pleaded guilty to abetting Jimmy for the same offences under Section 122B SIA and Section 55 SCA and was fined RM350,000.
SECURITIES COMMISSION MALAYSIA