Friday February 15, 2013
Worm farming company directors charged
SUNGAI PETANI: Three directors of a worm farming company were charged in the Sessions Court with illegally offering to the public subscription of shares in the company.
Abdul Razak Ahmad, 49, Johari Saad, 50, and Mohd Zaini Selaiman, 37, who are directors of Kulim Worm Agrotech (M) Sdn Bhd, were charged with committing the offence between May 13 and June 4, 2009, at the company’s premises in Jalan Lunas, Kilang Lama in Kulim.
They were charged under Section 91(1) of the Companies Act 1965, punishable under Section 94(1)(a) of the same Act, which carries a maximum penalty of five years’ jail or RM100,000 fine or both.
Johari pleaded guilty to the offence while Abdul Razak and Mohd Zaini claimed trial.
Sessions judge Ikmal Hishan Mohd Tajuddin allowed the men bail of RM10,000 each in one surety and fixed March 26 for decision on Johari’s case.
He also fixed the same date to mention the cases against the two other accused.
Companies Commission of Malaysia prosecuting officer Ramle Leen appeared for the prosecution while the three accused were unrepresented.