Former CEO of Inix Technologies jailed for submitting false statements
By Digital News Asia April 23, 2015
- 2011 case involved statements submitted from 2005 to 2006
- 45-month sentence to be served concurrently
THE Court of Appeal has imposed a total of 45 months’ imprisonment on Jimmy Tok Soon Guan, the former chief executive officer of Inix Technologies Holdings Bhd, the Securities Commission of Malaysia (SC) said in a statement.
Tok, 45, was charged in the Sessions Court in 2011 with one count of providing false information in the company’s prospectus under Section 55 of the Securities Commission Act (SCA) and four counts of submitting false statements to Bursa Malaysia Securities Bhd in the company’s quarterly reports between October 2005 and July 2006 under Section 122B of the Securities Industry Act (SIA).
He pleaded guilty to the charges and was fined a total of RM1.1 million by the Sessions Court in 2011, the SC said. [RM1 = US$0.27]
The Court of Appeal on April 22 allowed the SC’s appeal by imposing the imprisonment term against Tok in addition to the fine earlier imposed by the Sessions Court.
He was sentenced to a total of 45 months’ imprisonment, or nine months for each charge. The court ordered the jail term for the four charges under Section 122B to be served concurrently.
He was charged together with two former directors of Inix, namely Mok Chin Fan, 57, and Cheong Kok Yai, 55, as well as former account executive of the company, Normah Sapar, 41.
The Court of Appeal also allowed the prosecution’s appeal against the three individuals named above. Mok and Cheong were given a total of 30 months’ imprisonment for the same offences whereas Normah received 30 months’ imprisonment for abetting Tok.
Mok and Cheong had previously pleaded guilty at the Sessions Court and were fined RM325,000 each while Normah was fined RM350,000.
Inix is an investment holding company which provides software development, systems integration, and information technology management consultancy and other related professional services. It is also involved in the sale of books, and supplies hardware and software.
In its unaudited consolidated earnings results for the second quarter ended Jan 31, 2015, it reported revenue of RM2.107 million versus RM544,000 for the same period a year ago. Profit before tax was RM733,000 against a loss of RM885,000 a year ago.
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