Ex-directors charged with being silent over US$22mil share purchase

  • Nation
  • Monday, 11 Jul 2016

KUALA LUMPUR: Two former company directors claimed trial in the Sessions Court in Ampang to failing to declare their interest in a board meeting over the purchase of more than US$20mil in shares in an Indonesian company.

Datuk Ooi Kock Aun, 49, and Datuk Tey Por Yee, 40, were separately charged with failing to disclose their interest during a Syarikat Protasco Bhd board of directors' meeting that they had direct interest in PT Anglo Slavic Utama.

Their failure allegedly led the Protasco board to approve a proposal to invest in the oil and gas business in Indonesia by buying US$22mil (about RM89mil at that time) in Anglo Slavic Utama shares.

The offence was allegedly committed at Protasco's office at Unipark Suria, Jalan Ikram-Uniten, Kajang, between November and Dec 28, 2012.

Both were charged under Section 131(1) of the Companies Act 1965.

Companies Commission of Malaysia prosecuting officer Mohd Zulkhairi Kamaruzaman proposed bail at RM50,000 in one surety for each accused while counsel Sukri Mohamed, who acted for Ooi and Tey, asked for RM15,000 bail each.

Sessions judge Azrul Darus granted bail at RM15,000 each pending mention on Aug 26.

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Courts & Crime , directors , Protasco


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