Kuala Lumpur, 7 February 2007
The Securities Commission (SC) today charged Dato’ Ng Kim Weng (Dato’ Ng) in the Kuala Lumpur Sessions Court 1, one of the dedicated courts for capital market offences, for submitting false information to Bursa Malaysia (Bursa).
Dato’ Ng, the former Group Managing Director of Polymate Holdings Berhad (PHB) and Managing Director of ABI Malaysia Sdn Bhd, was charged for knowingly authorising the submission of false information to Bursa, namely inflated revenue and trade receivables of PHB for the year ended 30 September 2003, as contained in PHB’s 2003 Annual Report.
Dato’ Ng is charged under section 122B(b)(bb) of the Securities Industry Act 1983 (SIA) which is punishable under section 122B of the same Act. On conviction, Dato’ Ng is liable to pay a maximum fine of RM3 million or imprisonment for a term not exceeding 10 years or both.
The Court has fixed the case for trial on 8-12 October 2007. The Court granted Dato’ Ng bail of RM300,000 with one surety and his passport to be surrendered to the court.
SECURITIES COMMISSION MALAYSIA
