The Securities Commission building in Kuala Lumpur
KUALA LUMPUR: The Securities Commission (SC) has charged a former chief financial officer of AT Systematization Bhd (ATS) in the Kuala Lumpur Sessions Court for causing wrongful loss of RM7.82mil to the company.
In a statement, the SC said Yong Man Chai, 47, faces 20 charges under Section 317A(1) of the Capital Markets and Services Act 2007 (CMSA) for allegedly making payments totalling RM7.82mil to five companies, with the intention of causing wrongful loss to ATS.
The companies were Delta Million Dynamic Sdn Bhd, Midas Mode Sdn Bhd, LMC Multi Trading, Midland Sands Sdn Bhd and Silver Metal Sdn Bhd.
SC said the offences took place between July 2020 and October 2021 in Petaling Jaya, Selangor.
If convicted, Yong faces a jail term of not less than two years and not exceeding 10 years and is also liable to a fine not exceeding RM10mil.
He claimed trial to all 20 charges in three separate courts and was granted total bail of RM350,000.
Before Sessions Court judge Norma Ismail, Yong was allowed bail of RM160,000 with two local sureties. The court also ordered him to surrender his passport and report monthly to the SC’s investigating officer as part of his bail conditions.
Separately, Yong was granted bail of RM120,000 and RM70,000 respectively before Sessions Court judges Suhaila Haron and Azrul Darus. Both courts imposed similar additional bail conditions.
On Oct 8, 2025, former managing director of ATS, Choong Lee Aun, was charged with causing wrongful loss amounting to RM16.35mil to the company.
SC said the charges preferred against Yong were made possible through the close cooperation and collaboration between the SC and both domestic and international law enforcement agencies.
