Securities Commission issues arrest warrant for former SCIB chairman

The photo of Mohd Abdul Karim Abdullah being listed as wanted by Securities Commission Malaysia.

By DayakDaily Team

KUCHING, March 13: The Securities Commission Malaysia (SC) has obtained a warrant of arrest against former Sarawak Consolidated Industries Berhad (SCIB) chairman and non-executive, non-independent director Dato Mohd Abdul Karim Abdullah for criminal prosecution under securities laws.

In a statement, the SC said the warrant was secured earlier on Thursday (March 12) after the Public Prosecutor granted consent to prosecute Abdul Karim for his alleged involvement in causing the furnishing of a false statement by SCIB to Bursa Malaysia.

Abdul Karim, who is currently at large, is wanted for an offence under Section 369(b)(B) of the Capital Markets and Services Act 2007 (CMSA).

The SC noted that Abdul Karim had previously been charged by the regulator in 2021 over a similar offence involving false information in the financial statements of Serba Dinamik Holdings Berhad. The case was later resolved through a compound after the Public Prosecutor accepted his representation, resulting in him being fined RM3 million.

The commission said Abdul Karim’s last known addresses include No. 35, Jalan Hijau Pelangi U9/51, The Lake Garden Villas Cahaya SPK Seksyen U9 in Shah Alam, Selangor, as well as a unit listed as Flat 3401, Premise Number 345265912, PO Box 5130 in Dubai, United Arab Emirates.

Members of the public with information on Abdul Karim’s whereabouts have been urged to notify the SC at 012-6112496 or via email at [email protected].

The SC stressed that accurate disclosures relating to the financial affairs of public listed companies are crucial to ensuring trust and confidence in the capital market, adding that it will continue to vigorously enforce offences of this nature.

Separately, the SC has also charged former SCIB group managing director and chief executive officer Rosland Othman at the Kuala Lumpur Sessions Court yesterday (March 12) for allegedly causing the furnishing of a false statement by the company to Bursa Malaysia.

Rosland was charged with one count under Section 369(b)(B) of the CMSA for causing SCIB’s Interim Financial Report on Consolidated Results for the quarter ended June 30, 2021, which contained a revenue figure of RM852.8 million, to be submitted to Bursa Malaysia on Sept 30, 2021.

According to the charge, Rosland is deemed to have committed the offence under Section 367(1) of the CMSA in his capacity as a director of SCIB at the material time.

He pleaded not guilty to the charge.

Sessions Court judge Azrul Darus granted Rosland bail of RM500,000 with one local surety and ordered him to surrender his passport. He was also required to report monthly to the SC’s investigating officer until the completion of the trial as additional bail conditions.

If convicted, Rosland faces imprisonment of up to 10 years and a fine not exceeding RM3 million.

The SC was represented by deputy public prosecutors Mohd Hafiz Mohd Yusoff and Hashley Tajudin, along with prosecuting officers Quek Yiing Huey and Siti Sarah Kamaruzaman. — DayakDaily