Wong Gan Meng, Loo Tap Keong and Wong Yiak Leong, the 3 directors of Fresh Palms Holdings (S) Sdn Bhd (782095-K) were convicted by the Kuala Lumpur Sessions Court today, 8 February 2012 for several non-compliance offences under the Companies Act 1965.
All three accused persons pleaded guilty to two charges each, under section 165(4) of the Companies Act 1965, for failing to lodge annual returns within one month after the Annual General Meeting (AGM). They further pleaded guilty to two charges each, for failure to hold the company’s AGM, an offence under section 143(1) of the Companies Act 1965. Finally, the three directors also pleaded guilty to two charges each for failing to table a profit and loss account for the company, an offence under section 169(1) of the Companies Act 1965.
The three directors were each sentenced to a total fine of RM7,300. The Honorable Court had ordered the directors to pay the fine in two installments, RM2,000 each director, on the same day and the remaining RM5,300 each director, on or before 8 March 2012. In convicting them, Judge Tuan Zulhazmi Bin Abdullah stated that the responsibilities of directors are very important and that one must know all the rules and regulations laid out in the Companies Act 1965, before being elected as a director and that one should not use the defense of no knowledge.
The first installment had been paid by all three directors at the Court Registry.
In his mitigation plea, defense counsel Mr. Gurmukh Singh appealed to court to impose a minimum sentence on all three directors, as they were unemployed and had dependants to support. Puan Nirmala Devi Ramadass prosecuted on behalf of Suruhanjaya Syarikat Malaysia.
The Prosecution pressed for Court to impose a deterrent sentence against the directors as the offence related to good governance and conduct of director in managing a company incorporated under the Companies Act.
SSM views the breaches committed as in the above case seriously. The practice of failing to lodge statutory documents deprives the public from having access to information relating to the companies concerned and it also creates a doubt in the public mind as to its existence.
Punitive action taken by SSM is to remind company directors and their officers, the need to strictly adhere to the requirements of the Companies Act 1965.
(http://www.ssm.com.my/en/press-release/3-directors-fresh-palms-holdings-s-sdn-bhd-convicted-under-companies-act-1965)
All three accused persons pleaded guilty to two charges each, under section 165(4) of the Companies Act 1965, for failing to lodge annual returns within one month after the Annual General Meeting (AGM). They further pleaded guilty to two charges each, for failure to hold the company’s AGM, an offence under section 143(1) of the Companies Act 1965. Finally, the three directors also pleaded guilty to two charges each for failing to table a profit and loss account for the company, an offence under section 169(1) of the Companies Act 1965.
The three directors were each sentenced to a total fine of RM7,300. The Honorable Court had ordered the directors to pay the fine in two installments, RM2,000 each director, on the same day and the remaining RM5,300 each director, on or before 8 March 2012. In convicting them, Judge Tuan Zulhazmi Bin Abdullah stated that the responsibilities of directors are very important and that one must know all the rules and regulations laid out in the Companies Act 1965, before being elected as a director and that one should not use the defense of no knowledge.
The first installment had been paid by all three directors at the Court Registry.
In his mitigation plea, defense counsel Mr. Gurmukh Singh appealed to court to impose a minimum sentence on all three directors, as they were unemployed and had dependants to support. Puan Nirmala Devi Ramadass prosecuted on behalf of Suruhanjaya Syarikat Malaysia.
The Prosecution pressed for Court to impose a deterrent sentence against the directors as the offence related to good governance and conduct of director in managing a company incorporated under the Companies Act.
SSM views the breaches committed as in the above case seriously. The practice of failing to lodge statutory documents deprives the public from having access to information relating to the companies concerned and it also creates a doubt in the public mind as to its existence.
Punitive action taken by SSM is to remind company directors and their officers, the need to strictly adhere to the requirements of the Companies Act 1965.
(http://www.ssm.com.my/en/press-release/3-directors-fresh-palms-holdings-s-sdn-bhd-convicted-under-companies-act-1965)
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