KUALA LUMPUR: The Kuala Lumpur Sessions Court yesterday convicted Alan Rajendram a/l Jeya Rajendram for knowingly authorising the furnishing of a false statement to Bursa Malaysia Securities Bhd in 2009.
In a statement today, Securities Commission said
Alan, a former executive director of Linear Corp Bhd, was sentenced to seven months jail and a fine of RM100,000 after he pleaded guilty to the offence under section 369(b)(B) of the Capital Markets and Services Act 2007.
The false statement was in relation to Linear's announcement on 29 December 2009 stating its wholly-owned unit LCI Global Sdn Bhd had accepted a RM1.6 billion construction project awarded by Global Investment Group, a Seychelles incorporated company, to design and construct a district cooling plant of 350,000 RT (refrigeration tonnes) in Manjung, Perak, for what was termed as the ‘King Dome Project’.
Evidence showed that Alan knew that the said statement was not true, when he authorised the furnishing of the said information to Bursa.
Alan was previously acquitted by the Sessions Court in 2017 at the end of the prosecution’s case.
On July 31, 2019, however, the High Court overturned the acquittal and ordered Alan to enter his defence. Following the High Court’s decision, Alan pleaded guilty to the charge.