SC charges United U-Li Corporation Berhad’s external auditor for inflated profit
28 April 2009   |   Kuala Lumpur
The Securities Commission (SC) today charged Yue Chi Kin, 41, in the Kuala Lumpur Sessions Court for abetting United U-Li Corporation Berhad in submitting false information to Bursa Malaysia Securities Bhd (Bursa).

The false information is in relation to the profit before tax declared by United U-Li Corporation to Bursa in its Annual Report and Financial Statements for the year ended 31 December 2004. The financial statements were audited by Roger Yue, Tan & Associates, in which the accused was the engagement partner.

Following the SC’s investigation, it was revealed that the profit before tax declared by the company in the report was inflated.

The accused was charged under section 122B(b)(bb) of the Securities Industry Act 1983 read together with section 122C(c) of the same Act. He was charged after having failed to pay the compound offered by the Prosecution.

Upon conviction the accused is liable to a fine not exceeding RM3 million or to imprisonment for a term not exceeding ten years or both.

Yue was released on bail of RM100,000 with one surety, on the condition that his passport be surrendered to the Court.
SC-World Bank-IOSCO Asia Pacific Hub Conference 2019: Enhancing Financial Inclusion through Islamic Finance and FinTech
(From left to right):
  1. Abayomi A. Alawode, Head of Islamic Finance, Finance, Competitiveness and Innovation, The World Bank Group
  2. Datuk Syed Zaid Albar, Chairman of the Securities Commission Malaysia (SC)
  3. Dr. Firas Raad, Country Manager for Malaysia, East Asia and Pacific, The World Bank Group 
  4. Datuk Zainal Izlan Zainal Abidin, Deputy Chief Executive of SC
about the SC
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.

General Line: +603-6204 8000
General Email: [email protected]
© Copyright Securities Commission Malaysia.  Contact Us   |    Disclaimer   |   The site is best viewed using Microsoft Edge and Google Chrome with minimum resolution of 1280x1024
Generic Popup