Accelerating climate action through the financial sector – Joint Statement from BNM and SCM
The Joint Committee on Climate Change (JC3) held its third meeting on 14 September 2020. The meeting discussed the progress of initiatives under its four sub-committees (namely, Risk Management; Governance and Disclosure; Product and Innovation; and Engagement and Capacity Building), as well as the focus of priorities for the next 12 months.
Malaysian charged by US DOJ for North Korean Sanction Violations
The Department of Justice announced a criminal complaint charging Ri Jong Chol, Ri Yu Gyong, North Korean nationals, and Gan Chee Lim, a Malaysia national. The three were charged with conspiracy to violate North Korean Sanctions Regulations and bank fraud, and conspiracy to launder funds. The defendants allegedly established and utilized front companies that transmitted U.S. dollar wires through the United States to purchase commodities on behalf of North Korean customers.
TRANSMILE GROUP BHD FOUNDER AND FORMER CEO JAILED AND FINED FOR FURNISHING MISLEADING STATEMENT
The Kuala Lumpur Sessions Court today found Transmile Group Bhd (TGB) founder and former Chief Executive Officer (CEO) Gan Boon Aun guilty of furnishing misleading statements to Bursa Malaysia. The statements concerned TGB’s financial statement in its Quarterly Unaudited Consolidated Results for the Financial Year Ended 31 December 2006, an offence under section 122B (a)(bb) of the Securities Industries Act 1983 (SIA) read together with section 122(1) of the same Act.Sessions Court Judge Tuan Hasbullah bin Adam announced the verdict this morning, and sentenced Gan to a fine of RM2.5million (in default of 18 months’ imprisonment) and one day imprisonment. The SC said it will be recommending to the Public Prosecutor to appeal against the sentence.
The RM6.61 Billion Question to the PH government
Tengku Zafrul Aziz, Minister of Finance Malaysia Recently there has been an uproar in the Malaysian parliament. The Pakatan Harapan (PH) government awarded 101 projects...