KUALA LUMPUR (Jan 19): The Court of Appeal today unanimously dismissed the appeal by two former independent directors of Transmile Group Bhd who were found guilty of having knowingly authorised the furnishing of a misleading statement to the stock exchange, the Securities Commission Malaysia (SC) said today. This would mean the sentence of one-year imprisonment and a fine of RM300,000 against the directors, who were members of its Audit Committee, would be upheld. In 2011, the Sessions Court convicted and sentenced the two to one year in jail and a fine of RM300,000. In 2015, the High Court affirmed their conviction and sentence imposed by the Sessions Court. Today, Justice Datuk Ahmadi Haji Nawawi delivered the decision of the Court of Appeal, stating that there was no merit in the appeal and that the sentence imposed by the Sessions Court judge was commensurate with the offence.

Source: The Edge Markets January 19, 2017 13:53 UTC