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Accounting fraud in malaysia-Ho Hup Bhd

Recently, the board of directors of  PN17 Ho Hup has announced to Bursa Saham Malaysia that it will conduct an independent final investigative audit report relating to business losses recorded for financial years ended from 31 st December 2001 to 2008.

The lengthy announcement which is self-explanatory to Bursa Saham dated 19 th January 2010 is as follows:

 (1) Dato’ Low Tuck Choy (“LTC”) was suspended as the Company’s Managing Director on 28.8.2008 on the grounds of, among others, certain breaches of duties owed by LTC to the Company which had caused substantial business loss to the Company (“LTC’s Suspension”). The Company has made a general announcement in respect of LTC’s Suspension on 29.8.2008 and 3.9.2008;

(2) LTC was not re-elected as the Company’s director at the Company’s annual general meeting of shareholders held on 23.10.2008;

(3) on 1.7.2009 the Company has appointed Messrs Anuarul Azizan Chew & Co. (“Investigative Accountants”) to Continue reading Accounting Fraud/ Irregularities in PN17 Company Ho Hup Construction Company Bhd

Accounting fraud in malaysia:Ex Polymate Holdings Bhd

Recently, the KL Sessions Court has convicted Ng Kim Weng of submitting false statements to then Malaysian Securities Exchange Bhd (now Bursa Malaysia Securities Bhd).

The Securities Commission (SC) said in a statement, Ng’s conviction on Oct 20 followed his guilty plea to the offence which falls under section 122B(b)(bb) [...]

Accounting fraud in malaysia: Megan Media Holdings Bhd

Kenneth Kok, ex financial controller and personal assistant to the executive director of Megan Media Holdings Berhad was fined RM350,000 in default a year’s jail by the Sessions Court for abetting the company to make a false statement to Bursa Malaysia.

This is actually a follow up by Securities [...]