BNM vows targeted repayment assistance for MY businesses and homes

BNM assured its commitment of assistance to business and household in debt. The announcement came on the last day of the automatic moratorium. The moratorium ended yesterday, 30th September. These include a targeted extension of the moratorium, as well as repayment flexibilities to help borrowers based on their specific financial situation. This targeted assistance approach ensures that more resources are available to assist those who are vulnerable. It also enables the banking sector to better support the broader economy through continued lending.

FORMER MEGAN MEDIA EXECUTIVE CHAIRMAN SENTENCED TO PRISON

The Court of Appeal today affirmed a 2017 Sessions Court conviction of former Executive Chairman and Director of Megan Media Holdings Berhad (Megan Media), Dato’ Dr. Hj. Mohd Adam bin Che Harun for furnishing false information to Bursa Malaysia in 2007.The panel judges comprising Datuk Seri Kamaludin Md. Said, Datuk Ravinthran Paramguru and Dato’ Indera Sofian bin Tan Sri Abd. Razak unanimously dismissed Dato’ Adam’s appeal and reinstated a jail sentence of 18 months and a fine of RM300,000.

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.