Former ED sentenced, fined for furnishing false statement to Bursa

KUALA LUMPUR: The Kuala Lumpur Sessions Court has convicted a former executive director of Linear Corp Bhd after he pleaded guilty to a

charge of knowingly authorising the furnishing of a false statement to Bursa Malaysia Securities Bhd in 2009.

Alan Rajendram Jeya Rajendram, former executive director of Linear, was sentenced to seven months jail and a fine of RM100,000 after he pleaded guilty to the offence under section 369(b)(B) of the Capital Markets and Services Act 2007.

The false statement was in relation to an announcement made by Linear on Dec 29, 2009 which stated that Linear’s wholly owned subsidiary, LCI Global Sdn Bhd, had accepted a RM1.6 billion construction project awarded by Global Investment Group, a Seychelles incorporated company, to design and construct a district cooling plant of 350,000 RT (refrigeration tonnes) in Manjung, Perak, for what was termed as the “King Dome project”.

Evidence showed that Alan knew that the said statement was not true, when he authorised the furnishing of the said information to Bursa.

Alan was previously acquitted by the Sessions Court in 2017 at the end of the prosecution’s case but on July 31, 2019, the High Court had overturned the acquittal and ordered Alan to enter his defence to the said charge. Following the High Court’s decision, Alan pleaded guilty to the charge at the Sessions Court yesterday.

source https://www.thesundaily.my/business/former-ed-sentenced-fined-for-furnishing-false-statement-to-bursa-JJ1319946