Friday, October 04, 2013

Once again, Why Isa Samad must not ... (Part 3: Because of Section 122B of the Securities Industry Act )

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.

12 comments:

Anonymous said...

Kesian Isa Samad.Someone really dont want you to contest.Play dirty pulak tu.

Anonymous said...

Security Industry Act has been repealed, replaced with Capital Markets Services Act

Anonymous said...

Adat Ketimuran....

Back Stabbing.

Scared of Taking on Opponent Face to Face

Refusing to Debate Openly in Public under pretext of Adat Ketimuran.

Gunting Dalam Lipatan (as in Helen Ang's Blog)

Those are your GOOD Ketimuran Qualities! And that is only a Start! Wait till you hear about the Bad Ones Playing out Now....

Anonymous said...

Relevant Legal Provivion is S.214 of CMSA 2007

Bru said...

Thanks Anon 894am. I stand corrected.

Anonymous said...

let support him and make him the next PM of Malaysia.
He is the pride of the Malays.

Air mineral said...

Nothing will happen just like the ex chairwoman of the sc got away scot free. Sad place this land called malaysia.

Chu kai said...

Ini masaallah politik Melayu UMNO

Anonymous said...

Hand picked by PM to chart FGV...being PM's pet project,how do u think these malpractices...irregularities..illegallity can possibly occur? Are you suggesting PM and his hand picked person are cheating we people of Malaysia?

Anonymous said...

Where are you going with this?

You want to go after Tan Sri Isa? Not this way. If he has been skimming off 1AZAM for anything personal – Alphards, cows and condo – by all means go crazy hunting for skeletons.

But if you see this as a big scoop that would damage Tan Sri Isa’s reputation, have a bit of human decency if not class. Don’t look for skeletons where there are none.

This issue involves a man who was suddenly diagnosed with a life threatening condition. The treatment is not cheap. As senior management, he deserves all the medical privileges that comes with his position.
His service is valued by the said corporation even at a time he is ‘incapacitated’ . How do you know he didn’t contribute any service while on medical leave? Were you at his bedside 24/7, monitoring all his communication devices – cellphone etc.
It should be FGVs prerogative when they want to accept Tan Sri Sabri’s resignation and how long they wish to cover his medical treatment.
FGV shareholders, Bursa and the likes of you should respect that.

Oang Lereh said...

Let's fight for the eradication of "recycled" politicians turn corporate men scheme. How could a person who was found guilty of money politics be the Chairman of an enlarged public-listed company? Don't we have better corporate talents? And please don't choose anyone from Khazanah and Tabung Haji!

Oang Lereh said...

Let's fight for the eradication of "recycled" politicians turn corporate men scheme. How could a person who was found guilty of money politics be the Chairman of an enlarged public-listed company? Don't we have better corporate talents? And please don't choose anyone from Khazanah and Tabung Haji!