KUALA LUMPUR: Two brothers, who are principal officers of a supermarket chain, were charged yesterday with submitting false information to the Security Commission (SC) in their reverse takeover bid of the Ocean supermarket chain two years ago.
Yap Kim Seng, 49, the managing director of Pasaraya Hiong Kong Sdn Bhd, and his 44-year-old executive director brother Kim Fatt were accused of submitting the false information, namely the revenue for the year ended March 31, 2003 as contained in the supermarket’s financial statements for that year.
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