Kuala Lumpur, 25 January 2010
SC appoints PricewaterhouseCoopers Advisory Services Sdn Bhd as Swisscash Administrator
The Securities Commission Malaysia (SC) today announces the appointment of PricewaterhouseCoopers Advisory Services Sdn Bhd as the Administrator to manage the restitution process for eligible investors in the Swisscash Internet investment scam.
The Administrator will, within this week, be issuing notices calling for claims from claimants as well as the detailed format and supporting documents required. The notices will appear on the Administrator’s website as well as in the following newspapers, namely Berita Harian, Malaysia Nanban, News Straits Times, The Borneo Post, The Star, Sin Chew Daily and Utusan Malaysia. Once the public notices are issued by the Administrator, all communications with regard to the restitution process should be addressed directly to the Administrator, and not to the SC.
The Administrator will assess and review the claims and will then make its recommendations to the SC on the appropriate eligibility criteria for payments to be made. This criteria will then be submitted by the SC to the High Court for its approval.
SECURITIES COMMISSION MALAYSIA