KUALA LUMPUR: A former company director was charged at the Sessions Court here today with eight counts of graft under the Companies Act 1965.
In a statement, the Companies Commission of Malaysia (SSM) said the accused, Lau Kok Loon @Lau Say Siok, former director of Semenyih Jaya Sdn Bhd, pleaded not guilty to all charges.
Based on the charge sheet, Lau is said to have used his position as a director to obtain personal benefits, and misused the company's property by withdrawing money amounting to RM10,000,000 through four checks belonging to Semenyih Jaya Sdn Bhd in the name of the accused, without approval at the general meeting.
He was charged under Sections 132(2)(a) and 132(2)(c) of the Companies Act 1965.
If convicted, Lau could face a maximum five-year jail term or a maximum fine of RM30,000.
Judge Siti Noraidi Sulaiman allowed Lau RM30,000 bail in one surety.
The court also requested the accused to surrender his passport and ordered him to report to a police station on the first day of every month.
Case re-mention was fixed for Jan 27 for the prosecution to submit documents.
Mohd Zulkhairi Kamaruzaman and Nadia Zainal Abidin from the SSM prosecuted, while the accused was represented by counsel Datuk LM Chong from Tetuan Chong & Keng Hoe.