SC charges ex-Linear Corp director over false statement

KUALA LUMPUR: The Securities Commission (SC) has charged a former director of Linear Corp Bhd for authorising a false statement to Bursa Malaysia Securities Bhd.

The statement on December 29, 2009 to Bursa Malaysia was about Linear’s wholly owned subsidiary LCI Global Sdn Bhd bagging a RM1.6bil construction project from Global Investment Group, for a district cooling plant of 350,000 RT (refrigeration tonnes) in Manjung, Perak.

It was dubbed the “King Dome Project”.

In a statement, the SC said the charge was under section 369(b)(B) of the Capital Markets and Services Act 2007 against Alan Rajendram Jeya Rajendram.

Sessions Court judge Norsharidah Awang fixed bail at RM150,000 with one surety, ordered the accused to surrender his passport and to report to the Pulau Tikus police station in Penang on a monthly basis.

If convicted, Alan can be fined not more than RM3mil or jailed not more than 10 years, or both.

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