Atta Global suspends chairman after he was charged with drug trafficking

KUALA LUMPUR: Atta Global Group Bhd has suspended executive chairman Ooi Chieng Sim after he was charged in court under the Dangerous Drugs Act.

The suspension, the company told Bursa Malaysia today is in the best interest of the group and would enable Ooi to focus on his defence.

Ooi was among eight men charged with drug trafficking on Thursday at the Magistrate Court in Bukit Mertajam, Penang.

Atta Global said today that several of its properties in Penang and luxury cars were seized by the police in connection with the investigations.

The police have also frozen several shares trading accounts related to the company, as well as a subsidiary's banking accounts.

Atta Global, today said, it has appointed a solicitor to file a notice of claim for the release of its assets, including banking accounts, shares accounts, as well as properties to protect the interest of the company and its shareholders.

On Jan 21, Atta Global said the police on Jan 16 had raided premises located at Prai Industrial estate in Penang.

Ooi was also remanded to assist in the investigations.

He was also the executive chairman of Heng Huat Resources Group Bhd, where he is a major shareholder.

In a separate filing with Bursa Malaysia today, Heng Huat said Ooi has been redesignated to the post of non-executive director.

Trading of Atta shares, as well as shares in Heng Huat were suspended since Jan 16.