SC charges Kosmo Tech director and accounts manager for providing false information to stock exchange

26 May 2011 | Kuala Lumpur

The Securities Commission Malaysia (SC) today charged a director and an accounts manager of Kosmo Technology Industrial Berhad (Kosmo Tech) for providing false information to Bursa Malaysia Securities Berhad.

Six charges under section 122B(a)(bb) Securities Industry Act 1983 (SIA) and another two charges under section 369(a)(B) Capital Market and Services Act 2007(CMSA) were preferred against Mohd Azham Bin Mohd Noor and Helen Lim Hai Loon 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 they will be liable to a fine not exceeding RM3 million and imprisonment for a term not exceeding 10 years for each charge.

Mohd Azham and Helen Lim were released on bail of RM150,000 with one surety each. Sessions Court Judge Rosenani Bt Abd Rahman further ordered that the passports of the two accused persons be surrendered to the Court and fixed an application for their trial to be held jointly on 22 June 2011.

SECURITIES COMMISSION MALAYSIA

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