KUALA LUMPUR: Two former directors of Silver Bird Group Bhd have been convicted by the Kuala Lumpur Sessions Court for knowingly permitting the furnishing of false statements to Bursa Securities, which is an offence under section 369(b)(B) of the Capital Markets and Services Act 2007 (CMSA).
The Securities Commission said in a statement Silver Bird's founder and former group managing director Datuk Jackson Tan Han Kook and former group executive director Derec Ching Siew Cheong pleaded guilty to one charge each, and have been sentenced to a one-day imprisonment and fine of RM500,000 each.
In default of the fine, there would be an imposition of 50 months imprisonment.
Both Tan and Ching were first charged on Sept 11, 2013, with seven and eight charges respectively for the furnishing of false statements contained in Silver Bird’s unaudited quarterly financial results for the financial periods ended Oct 31, 2010, and Oct 31, 2011, to the stock exchange.
Sessions Court judge Siti Aminah Ghazali imposed the sentence, which included consideration of the other charges, following Tan’s and Ching’s application for plea bargaining under section 172C of the Criminal Procedure Code.
