Former Executive Director Sentenced and Fined for Furnishing False Statement to Bursa
30 August 2019   |   Kuala Lumpur
The Kuala Lumpur Sessions Court on Thursday (29 August 2019) convicted a former Executive Director of Linear Corporation Berhad (Linear) after he pleaded guilty to a charge of knowingly authorising the furnishing of a false statement to Bursa Malaysia Securities Berhad (Bursa) in 2009.

Alan Rajendram A/L Jeya Rajendram, former Executive Director of Linear, was sentenced to seven months jail and a fine of RM100,000 after he pleaded guilty to the offence under section 369(b)(B) of the Capital Markets and Services Act 2007.

The false statement was in relation to an announcement made by Linear on 29 December 2009 which stated that Linear’s wholly owned subsidiary, LCI Global Sdn Bhd, had accepted a RM1.6 billion construction project awarded by Global Investment Group, a Seychelles incorporated company, to design and construct a district cooling plant of 350,000 RT (refrigeration tonnes) in Manjung, Perak, for what was termed as the ‘King Dome Project’.

Evidence showed that Alan knew that the said statement was not true, when he authorised the furnishing of the said information to Bursa.

Alan was previously acquitted by the Sessions Court in 2017 at the end of the prosecution’s case but on 31 July 2019, the High Court had overturned the acquittal and ordered Alan to enter his defence to the said charge. Following the High Court’s decision, Alan pleaded guilty to the charge at the Sessions Court yesterday.
SC-World Bank-IOSCO Asia Pacific Hub Conference 2019: Enhancing Financial Inclusion through Islamic Finance and FinTech
(From left to right):
  1. Abayomi A. Alawode, Head of Islamic Finance, Finance, Competitiveness and Innovation, The World Bank Group
  2. Datuk Syed Zaid Albar, Chairman of the Securities Commission Malaysia (SC)
  3. Dr. Firas Raad, Country Manager for Malaysia, East Asia and Pacific, The World Bank Group 
  4. Datuk Zainal Izlan Zainal Abidin, Deputy Chief Executive of SC
SECURITIES COMMISSION MALAYSIA
GET IN TOUCH
HOTLINE: +603-6204 8000
related sites
© Copyright Securities Commission Malaysia   |   Contact Us   |  Disclaimer  |  The site is best viewed using Internet Explorer 11 and Google Chrome with mimimum resolution of 1280x1024
Ooops!
Generic Popup