Yong Man Chai (Yong), 47, faced 20 charges under section 317A(1) of the Capital Markets and Services Act 2007 (CMSA) for allegedly making payments totalling RM7.821 million to five companies, with the intention of causing wrongful loss to ATS.
The companies were Delta Million Dynamic Sdn Bhd, Midas Mode Sdn Bhd, LMC Multi Trading, Midland Sands Sdn. Bhd. and Silver Metal Sdn. Bhd.
The offences took place between July 2020 and October 2021 in Petaling Jaya, Selangor.
Under section 317A(1) of the CMSA, a director or officer of a listed corporation or any of its related corporations shall not do anything with the intention of causing wrongful loss to the listed corporation or its related corporations.
If convicted, Yong faces a jail term of not less than two years and not exceeding 10 years and is also liable to a fine not exceeding RM10 million.
Yong claimed trial to all 20 charges in three separate courts and was granted bail of RM350,000 in total.
Yong, who appeared before Sessions Court judge Puan Norma binti Ismail, was granted bail of RM160,000 with two local sureties. He was also ordered to surrender his passport to court and to report to the SC’s investigating officer at the SC’s office on a monthly basis as additional bail conditions by the court.
Separately, Yong was granted bail of RM120,000 and RM70,000 respectively before Sessions Court judges Puan Suhaila binti Haron and Tuan Azrul bin Darus. Both courts imposed similar additional bail conditions.
Previously on 8 October 2025, former Managing Director of ATS, Choong Lee Aun was charged with causing wrongful loss amounting to RM16.35 million to the company.
The charges preferred against Yong today were made possible through the close cooperation and collaboration between the SC and both domestic and international law enforcement agencies.
The joint efforts reflect the commitment to ensuring that perpetrators of securities laws are brought to justice. The SC wishes to record its appreciation to the International Criminal Police Organisation (INTERPOL) and Malaysia Airports Aviation Security (AVSEC) for their invaluable assistance.
