PETALING JAYA: Two former directors of bread-making company Silver Bird Group Bhd have been sentenced to a day’s imprisonment and a RM500,000 fine each for furnishing false statements to Bursa Malaysia Securities Bhd over a decade ago.
Jackson Tan, the company’s founder and former group managing director and Derec Ching, former group executive director, face a 50-month jail term if they fail to pay the fine.
Both pleaded guilty yesterday to one charge each under Section 369(b)(B) of the Capital Markets and Service Act 2007.
Tan and Ching were first charged on Sept 11, 2013 with seven and eight counts respectively for furnishing false statements in Silver Bird’s unaudited quarterly financial results for the financial periods ended Oct 31, 2010 and Oct 31, 2011.
The sentences were imposed following a plea bargain under Section 172C of the Criminal Procedure Code.