Latest news with #LiewYewChung
The Sun
16-05-2025
- Business
- The Sun
SC charges former London Biscuits CEO with falsifying financial statement, corporate records
KUALA LUMPUR: The Securities Commission Malaysia (SC) today charged Datuk Seri Liew Yew Chung, former executive director and group chief executive officer of London Biscuits Berhad, in the Sessions Court here for furnishing a false financial statement to the stock exchange and falsifying records of a listed corporation. Based on a statement issued by the SC, Liew faced a total of 13 charges before Sessions Court Judge Azrul Darus and pleaded not guilty to all of them. On the first charge, Liew is accused of having caused the furnishing of a false financial statement to Bursa Malaysia Securities Berhad on Aug 30, 2019, an offence under Section 369(b)(B) of the Capital Markets and Services Act (CMSA) 2007. The charge relates to a false statement concerning London Biscuits Berhad's cumulative revenue amounting to RM285,985, which was contained in the company's third quarter financial report for the period ended June 30, 2019. By virtue of his position as a director and group CEO of London Biscuits Berhad at the material time, Liew is deemed to have committed the offence under Section 367(1) of the CMSA. Liew faces a maximum sentence of 10 years imprisonment and a fine not exceeding RM3 million, upon conviction. Separately, he was also charged with 12 counts under Section 368(1)(a) of the CMSA 2007 for instructing the creation of false sales transactions in the accounting records of London Biscuits Berhad between October 2018 and March 2019. The total value of the false transactions across all 12 charges amounts to RM2,354,430. Upon conviction, each charge carries a maximum penalty of 10 years imprisonment and a fine not exceeding RM1 million. The Sessions Court allowed bail at RM300,000 with two local sureties for all 13 charges. Liew was further ordered to surrender his passport to the court and to report to the SC's investigating officer twice a month.
The Sun
16-05-2025
- Business
- The Sun
Ex-CEO of London Biscuits faces 13 fraud charges
KUALA LUMPUR: The Securities Commission Malaysia (SC) today charged Datuk Seri Liew Yew Chung, former executive director and group chief executive officer of London Biscuits Berhad, in the Sessions Court here for furnishing a false financial statement to the stock exchange and falsifying records of a listed corporation. Based on a statement issued by the SC, Liew faced a total of 13 charges before Sessions Court Judge Azrul Darus and pleaded not guilty to all of them. On the first charge, Liew is accused of having caused the furnishing of a false financial statement to Bursa Malaysia Securities Berhad on Aug 30, 2019, an offence under Section 369(b)(B) of the Capital Markets and Services Act (CMSA) 2007. The charge relates to a false statement concerning London Biscuits Berhad's cumulative revenue amounting to RM285,985, which was contained in the company's third quarter financial report for the period ended June 30, 2019. By virtue of his position as a director and group CEO of London Biscuits Berhad at the material time, Liew is deemed to have committed the offence under Section 367(1) of the CMSA. Liew faces a maximum sentence of 10 years imprisonment and a fine not exceeding RM3 million, upon conviction. Separately, he was also charged with 12 counts under Section 368(1)(a) of the CMSA 2007 for instructing the creation of false sales transactions in the accounting records of London Biscuits Berhad between October 2018 and March 2019. The total value of the false transactions across all 12 charges amounts to RM2,354,430. Upon conviction, each charge carries a maximum penalty of 10 years imprisonment and a fine not exceeding RM1 million. The Sessions Court allowed bail at RM300,000 with two local sureties for all 13 charges. Liew was further ordered to surrender his passport to the court and to report to the SC's investigating officer twice a month.
Free Malaysia Today
16-05-2025
- Business
- Free Malaysia Today
Ex-London Biscuits CEO charged over false statements
The Securities Commission said former London Biscuits CEO Liew Yew Chung pleaded not guilty to a total of 13 charges. KUALA LUMPUR : A former executive director and group CEO of the now-delisted London Biscuits Bhd has been charged with furnishing a false financial statement to the stock exchange and falsifying records of a listed company. In a statement, the Securities Commission said Liew Yew Chung pleaded not guilty to a total of 13 charges before sessions court judge Azrul Darus, Bernama reported. Liew is accused of having caused the furnishing of a false financial statement in August 2019 concerning the company's cumulative revenue amounting to RM285,985 in its third quarter financial report. He was also charged with 12 counts for allegedly instructing the creation of false sales transactions in the accounting records of London Biscuits between October 2018 and March 2019. The total value of the false transactions across all 12 charges amounted to more than RM2.3 million. Liew faces a penalty of up to 10 years' jail and a RM3 million fine if convicted. He was allowed bail at RM300,000, and was ordered to surrender his passport. London Biscuits, based in Johor, was a major biscuits and snacks manufacturer with products distributed in Southeast Asia and the Asia-Pacific region. It went into liquidation and was ordered to be wound up in 2020 after it defaulted on more than RM250 million in bank loans.
Malay Mail
16-05-2025
- Business
- Malay Mail
Securities Commission takes action against ex-London Biscuits CEO over 13 counts of falsified financial reports
KUALA LUMPUR, May 16 — The Securities Commission Malaysia (SC) today charged Datuk Seri Liew Yew Chung, former executive director and group chief executive officer of London Biscuits Berhad, in the Sessions Court here for furnishing a false financial statement to the stock exchange and falsifying records of a listed corporation. Based on a statement issued by the SC, Liew faced a total of 13 charges before Sessions Court Judge Azrul Darus and pleaded not guilty to all of them. On the first charge, Liew is accused of having caused the furnishing of a false financial statement to Bursa Malaysia Securities Berhad on Aug 30, 2019, an offence under Section 369(b)(B) of the Capital Markets and Services Act (CMSA) 2007. The charge relates to a false statement concerning London Biscuits Berhad's cumulative revenue amounting to RM285,985, which was contained in the company's third quarter financial report for the period ended June 30, 2019. By virtue of his position as a director and group CEO of London Biscuits Berhad at the material time, Liew is deemed to have committed the offence under Section 367(1) of the CMSA. Liew faces a maximum sentence of 10 years imprisonment and a fine not exceeding RM3 million, upon conviction. Separately, he was also charged with 12 counts under Section 368(1)(a) of the CMSA 2007 for instructing the creation of false sales transactions in the accounting records of London Biscuits Berhad between October 2018 and March 2019. The total value of the false transactions across all 12 charges amounts to RM2,354,430. Upon conviction, each charge carries a maximum penalty of 10 years imprisonment and a fine not exceeding RM1 million. The Sessions Court allowed bail at RM300,000 with two local sureties for all 13 charges. Liew was further ordered to surrender his passport to the court and to report to the SC's investigating officer twice a month. — Bernama
The Star
16-05-2025
- Business
- The Star
SC charges former ED/group CEO of London Biscuits for false financial statement, records
KUALA LUMPUR: The Securities Commission has charged the former executive director ad group CEO of London Biscuits Bhd for furnishing a false financial statement to the stock exchange and falsification of records. In a statement, the capital markets regulator said Datuk Sri Liew Yew Chung has claimed trial to one charge of causing the furnishing of a false financial statement to Bursa Malaysia Securities Bhd on Aug 30, 2019. This is an offence under section 369(b)(B) of the Capital Markets and Services Act 2007 (CMSA). According to the charge, the false statement relating to London Biscuits' cumulative revenue, amounting to RM285,985,000, was contained in the company's quarterly report in the third quarter of its financial period ended June 30, 2019. Liew was deemed to have committed the offence under section 367(1) of the CMSA due to his position as a director and chief executive of London Biscuits. If convicted, Liew could face imprisonment for a term not exceeding 10 years and shall also be liable to a fine not exceeding RM3 million. In addition, Liew faced 12 charges under section 368(1)(a) of the CMSA for instructing the creation of false transactions concerning company sales in the accounting records of London Biscuits between October 2018 and March 2019. The false transactions in all 12 charges amounted to a total sum of RM2,354,430. Liew claimed trial to all the charges. If convicted, Liew can be punished with a jail term not exceeding 10 years and shall also be liable to a fine not exceeding RM1 million. Sessions Court judge Tuan Azrul Darus granted Liew bail at RM300,000 with two local sureties for all 13 charges. Liew was also ordered to surrender his passport to court and report to the SC's Investigating Officer on a bi-monthly basis.
