Kosmo Technology Group MD charged

7 June 2011 | Kuala Lumpur

The Securities Commission Malaysia (SC) today charged Dato’ Norhamzah bin Nordin, the group managing director of Kosmo Technology Industrial Berhad (Kosmo Tech) for providing false information to Bursa Malaysia Securities Berhad. The charges against Dato’ Norhamzah followed the charging of Mohd Azham and Lim Hai Loon at the Sessions Court on 26th May 2011.

The SC preferred six charges under section 122B(a)(bb) Securities Industry Act 1983 (SIA) and another two charges under section 369(a)(B) Capital Markets and Services Act 2007 (CMSA) against Dato’ Norhamzah in relation to false statements in Kosmo Tech’s eight quarterly reports on the unaudited consolidated results for the financial years 2006 and 2007. If convicted he will be liable to a fine not exceeding RM3 million and imprisonment for a term not exceeding 10 years for each charge.

Dato’ Norhamzah was granted bail at RM200,000 with one surety and was required to surrender his passport to the Court on or before 22 June 2011. The Court will hear the Prosecution’s application for joint trial of Dato’ Norhamzah, Mohd Azham and Lim Hai Loon on 22 June 2011.

SECURITIES COMMISSION MALAYSIA

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The Securities Commission Malaysia (SC) was established on 1 March 1993 under the Securities Commission Act 1993 (SCA). We are a self-funded statutory body entrusted with the responsibility to regulate and develop the Malaysian capital market.

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