RM800,000 transaction: Director pleads not guilty
Published on: Tuesday, January 23, 2018
Tawau: A director of a company pleaded not guilty before the Sessions Court, here, Monday, to a charge of disposing of some of the company assets worth RM800,000 without approval.Wilfred Lee Vui Ming, 49, as the director of Darvel Bay Hybrid Aquaculture Sdn Bhd, was alleged to have committed the crime on April 6, 2015, with properties involving Breeding Division fixed assets and brood stock worth RM450,000, as well as live fish stock in sea cages worth RM350,000.Wilfred, who was represented by counsel Phillip Lee, pleaded not guilty when his charge was read out in front of judge Awang Kerisnada Awang Mahmud.ADVERTISEMENT He was charged under Section 132 (1) (b) of the Companies Act 1965 and can be sentenced under Section 132C (5) of the same act, which carries a jail term up to five years or fine of RM30,000 or both, upon conviction.Stay up-to-date by following Daily Express’s Telegram channel.
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The court offered him RM2,000 bail with a local surety and set Feb 28 for case management.Suruhanjaya Syarikat Malaysia (SSM) officer Najia Abdul Razak prosecuted on its behalf. - Lagatah Toyos