RM3 million fine, 10 years jail
If the claim is true, that Felda had made a false declaration to the Bursa, Umno vice president asspirant Isa Samad could be in serious trouble ...
If you have not read Part 1 and Part 2 of my previous postings, read them at your leisure later (links provided at the end of this posting).
But what you must read right away is Big Dog's latest posting because if what the blogger claims is true, then someone could go to jail for making a false declaration made by the FGV to the Bursa. Specifically, under Section 122B of the Securities IndustryAct, a person who makes a false declaration to the Securities Commission, the stock exchange, or a recognized clearance house is liable to a fine of not more than RM3 million or an imprisonment term of not more than 10 years, or both.
In False Announcemetn to Bursa Malaysia or BoD Assassination? the pro-Umno blogger draws our attention to an announcement made to the Bursa by the FGV.
As part of their statutory duty, FELDA Global Ventures Holdings Bhd (FGVH) made an announcement to Bursa Malaysia that recently retired President of the Group and CEO Tan Sri Sabri Ahmad resigned from FGV BoD dated 29 August 2013.
As far as we know, Tan Sri Sabri at the time was incapacitated and hospitalised for a very major ailment in Kuala Lumpur.
He was not allowed visitors and definitely no work ever made its way to his hospital bed. Which include any papers that he is supposed to sign, to finalise if ever he actually wants to leave FGV BoD by his own device.
The Bursa announcement by Isa's FGV, h e r e.
Any corporate player will tell you this, if true, is a grave offence. But that aside, again if the allegation's true, FGV has turned its back on our adat ketimuran, where you are supposed to take care of your old, your sick, and especially those who have contributed immensely to your well-being.