Kuala Lumpur, 9 July 2015
SC Charges Former Director of Linear Corporation Bhd
The Securities Commission Malaysia (SC) today charged a former director of Linear Corporation Bhd (Linear) for authorising the furnishing of a false statement to Bursa Malaysia Securities Berhad.
The SC preferred one charge under section 369(b)(B) of the Capital Markets and Services Act 2007 (CMSA) against Alan Rajendram a/l Jeya Rajendram in relation to a false statement furnished to Bursa Malaysia Securities Bhd on 29 December 2009.
The announcement in this case was that Linear’s wholly owned subsidiary, LCI Global Sdn Bhd had accepted a RM1.6 billion construction project awarded by Global Investment Group (GIG) a Seychelles incorporated company, to design and construct a district cooling plant of 350,000 RT (refrigeration tonnes) in the district of Manjung, Perak, for what was termed the ‘King Dome Project’.
Sessions Court Judge Norsharidah Awang fixed bail at RM150,000 with one surety, ordered the accused to surrender his passport and to report to the Pulau Tikus police station in Penang on a monthly basis.
If convicted, Alan will be liable to a fine not exceeding RM 3 million or imprisonment for a term not exceeding 10 years or both.
SECURITIES COMMISSION MALAYSIA