Serba Dinamik and senior executives accused of misleading Bursa Malaysia
In today’s proceedings at the Sessions Court in Kuala Lumpur, Serba Dinamik Holdings Bhd and three of its officials were accused of allegedly providing fake financial statements to Bursa Malaysia Securities Bhd.
In addition to the executive director Datuk Syed Nazim Syed Faisal, the group chief financial officer Azhan Azmi, and the vice-president of accounting and finance Muhammad Hafiz Othman were also accused, according to the Edge Markets.
Section 369(a)(B) of the Capital Markets and Services Act 200, which covers the crime of willfully submitting false information to a stock exchange, among other things, in relation to a securities or derivative, was used against all three.
The accusations against them were read in conjunction with Section 367(1) of the Capital Markets and Services Act 2007, which holds office holders accountable for acts committed by the corporation in which they hold office.