Sime Darby, KPMG execs charged for failure to comply

  • Nation
  • Monday, 20 Oct 2008

KUALA LUMPUR: Two corporate individuals were charged in court for failing to comply with a notice to produce documents to Companies Commission of Malaysia (SSM) investigators.

According to a statement by SSM on Monday, Mohamed Ishak Abd Hamid, Sime Darby Holdings Bhd’s group human resource executive vice-president, was charged last Friday under the Companies Act 1965 for failing to comply with a notice issued by SSM under Section 7B(2).

The notice required Mohamed Ishak to produce documents to SSM’s investigation officers to assist them in their on-going investigations.

He claimed trial and Sessions Court judge S.M. Komathy Suppiah fixed Dec 1 for mention.

On the same day, another individual, KPMG Corporate Services Sdn Bhd executive director Tan Kim Chuan, was charged at a separate Sessions Court for a similar offence, the statement said.

Tan was charged for failing to comply with a notice issued by SSM to produce audit working committee investigative papers to the Commission’s investigators.

He too claimed trial and Sessions Court judge Rozana Ali Yusoff fixed Dec 12 as the preliminary objection date for the defence counsel.

If found guilty, they could face a maximum jail sentence of three years or a RM10,0000 fine or both.

“SSM hopes the said enforcement action will send out a clear message to corporations in Malaysia and its officers that we are very serious with our enforcement action.

“We will not hesitate to take necessary action if our investigations into the transgression of the Companies Act is impeded or hindered,” the statement said.

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