Former Executive Director Faces 11 Charges For Causing Wrongful Loss To Company

KUALA LUMPUR, Jan 5 (Bernama) -- London Biscuits Berhad former executive director and group chief executive officer Datuk Seri Liew Yew Chung pleaded not guilty in two Sessions Courts here today to 11 charges of causing wrongful loss to a company amounting to over RM7 million.

Liew, 56, who at the time of the incident was a director of a listed corporation, Khee San Berhad, was charged with intentionally causing wrongful loss to Khee San Food Industries Sdn Bhd by cancelling 25 debt agreements between the company and 11 individuals totalling RM7,119,465.

The offence was allegedly committed in 2019 at Khee San Food Industries, Jalan Kolej, Seri Kembangan, near here, under Subsection 317A(1) of the Capital Markets and Services Act 2007 (Act 671), which carries a maximum prison sentence of 10 years and a fine of RM10 million or both, if convicted.

Securities Commission (SC) prosecutor Keith Loo offered bail of RM3 million with two sureties and the additional condition that the accused must report to the SC office every two months until the case is resolved.

"The offence under subsection 317A of the Capital Markets Act is a serious offence that affects investor confidence in investing in the Malaysian capital market, and therefore we request that a commensurate bail amount be granted," he said, assisted by another SC prosecuting officer, Eunice Ong.

Lawyer Shankar Govinth, representing Liew, requested a lower bail on the grounds that his client was previously charged in May 2025 at the Sessions Court here with a RM300,000 bail and two sureties.

"My client attended court using a wheelchair and wearing a neck brace after undergoing three surgeries last year. He is also being treated for depression and nerve problems," he said.

Judges Azrul Darus and Norma Ismail each allowed the accused to be released on bail of RM80,000 with one surety for all cases, along with additional conditions as requested by the prosecution, and set March 12 for the case remention.

On May 16, 2025, Liew was charged with 13 counts related to submitting false financial statements to Bursa Malaysia Securities Berhad and falsifying records of the listed company.

-- BERNAMA