KUALA LUMPUR: Two former executive directors of Axis Incorporation Bhd received jail sentences yesterday for furnishing false statements to Bursa Malaysia Securities Bhd.
Lee Han Boon, 36, and Saipuddin Lim Abdullah, 58, were sentenced by the Sessions Court after they pleaded guilty, the Securities Commission Malaysia (SC) said in a statement.
The two men admitted furnishing false information to the stock exchange in relation to Axis’ revenue of RM91.13 million, of which RM51.5 million was false, for the fourth quarter ended March 31, 2008.
Lee was sentenced to seven months’ imprisonment and fined RM200,000, while Saipuddin was sentenced to 12 months’ imprisonment. Both of them were former substantial shareholders of the company.
The trial against Lee and Saipuddin started in 2015. Hearing will continue against two other individuals, Koh Tee Jin and Lee Koon Huat, who were jointly tried with Lee and Saipuddin for the same offences.
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