Kuala Lumpur, 3 November 2022
The Kuala Lumpur Sessions Court, on 2 November 2022, convicted former directors of Silver Bird Group Berhad (Silver Bird) for knowingly permitting the furnishing of false statements to Bursa Malaysia Securities Berhad, an offence under section 369(b)(B) of the Capital Markets and Services Act 2007 (CMSA).
Silver Bird’s founder and former Group Managing Director Dato’ Jackson Tan Han Kook and former Group Executive Director Derec Ching Siew Cheong pleaded guilty to one charge each. Both were sentenced to a one-day imprisonment and fine of RM500,000 each [in default of the fine, to be imposed 50 months imprisonment].
Both Tan and Ching were first charged on 11 September 2013 with seven and eight charges respectively for the furnishing of false statements contained in Silver Bird’s unaudited quarterly financial results for the financial periods ended 31 October 2010 and 31 October 2011 to the stock exchange.
Sessions Court judge Siti Aminah Ghazali imposed the sentence, which included consideration of the other charges, following Tan’s and Ching’s application for plea bargaining under section 172C of the Criminal Procedure Code.
SECURITIES COMMISSION MALAYSIA
