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Previous directors of Silver Bird founded guilty for providing incorrect declarations

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KUALA LUMPUR: 2 previous directors of Silver Bird Group Bhd have actually been founded guilty by the Kuala Lumpur Sessions Court for intentionally allowing the furnishing of incorrect declarations to Bursa Securities, which is an offense under area 369( b)( B) of the Capital Markets and Providers Act 2007 (CMSA).

The Securities Commission stated in a declaration Silver Bird’s creator and previous group handling director Datuk Jackson Tan Han Kook and previous group executive director Derec Ching Siew Cheong pleaded guilty to one charge each, and have actually been sentenced to a one-day jail time and fine of RM500,000 each.

In default of the fine, there would be an imposition of 50 months jail time.

Both Tan and Ching were very first charged on Sept 11, 2013, with 7 and 8 charges respectively for the furnishing of incorrect declarations consisted of in Silver Bird’s unaudited quarterly monetary outcomes for the monetary durations ended Oct 31, 2010, and Oct 31, 2011, to the stock market.

Sessions Court judge Siti Aminah Ghazali enforced the sentence, that included factor to consider of the other charges, following Tan’s and Ching’s application for plea bargaining under area 172C of the Wrongdoer Treatment Code.

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