KUALA LUMPUR: Former director of Sarawak Consolidated Industries Bhd has claimed trial at the Sessions Court here to a charge of furnishing false statement to Bursa Malaysia Securities Bhd (Bursa Malaysia) on matters pertaining to the company in 2021.
Rosland Othman, 53, in his capacity as the company director at the material time, was accused of causing the false statement to be furnished to Bursa Malaysia, whereby the false statement was included in the "Interim Financial Report on Consolidated Results for the Quarter Ended June 30, 2021".
The offence was allegedly committed at Bursa Malaysia, Exchange Square, Bukit Kewangan, near here, on Sept 30, 2021.
Rosland was charged under Section 369(b)(B) of the Capital Markets and Services Act 2007 and faces a maximum 10 years imprisonment and fine of up to RM3mil, if convicted.
Deputy public prosecutor Hashley Tajudin from the Securities Commission (SC) did not offer bail as the accused was charged with a non-bailable offence.
"However, if the court wishes to use its discretion, the prosecution is proposing a RM1mil bail in one surety and sought for additional conditions to be imposed on the accused.
"The accused must surrender his passport to the court and to report his attendance to the SC office monthly until the disposal of the case," he said here on Thursday (March 12).
Rosland's lawyer S. Shastidaran asked for a lower bail amount as his client is supporting seven children from two marriages as well as his mother and his mother-in-law.
"My client was declared bankrupt in 2023. He has diabetes, glaucoma and nerve issues. This is his first offence.
"He has cooperated throughout the investigation. I ask for the court to allow a reasonable bail of RM5,000," Shastidaran said.
DPP Hashley said RM5,000 was too low and there was probability that the accused would abscond.
"The accused was issued with a notice to appear to have his statement taken in August 2024 but this was delayed several times on various excuses.
"The investigating team finally completed the statement recording in October 2024.
"In our experience, a bankrupt person can still travel abroad. We hope the court would consider this," DPP Hashley said.
Sessions Court judge Azrul Darus fixed bail at RM500,000 in one surety. The court also allowed the additional conditions to be imposed and fixed May 7 for mention.
