Former directors of Silver Bird Group convicted

THE Kuala Lumpur Sessions Court yesterday convicted former directors of Silver Bird Group Bhd for knowingly permitting the furnishing of false statements to Bursa Malaysia Securities Bhd, an offence under section 369(b)(B) of the Capital Markets and Services Act 2007.

Silver Bird founder and former group MD Datuk Jackson Tan and former group ED Derec Ching pleaded guilty to one charge each.

Both were sentenced to a one-day imprisonment and fine of RM500,000 each (in default of the fine, to be imposed 50 months imprisonment).

Both Tan and Ching were first charged on Sept 11, 2013, with seven and eight charges respectively for the furnishing of false statements contained in Silver Bird’s unaudited quarterly financial results for the financial periods ended Oct 31, 2010, and Oct 31, 2011, to the stock exchange.

Sessions Court Judge Siti Aminah Ghazali imposed the sentence, which included consideration of the other charges, following Tan’s and Ching’s application for plea bargaining under section 172C of the Criminal Procedure Code. — TMR