SC Charges Former Khee San Bhd CEO For Causing Wrongful Loss Of RM7.12 Mln

KUALA LUMPUR, Jan 5 (Bernama) -- The Securities Commission Malaysia (SC) has charged Datuk Seri Liew Yew Chung, the former chief executive officer (CEO) and non-independent non-executive chairman of Khee San Bhd (KSB), for causing a wrongful loss of RM7.12 million to KSB’s subsidiary, Khee San Food Industries Sdn Bhd (KSFI).

In a statement, the SC said Liew faced 11 charges under section 317A(1) of the Capital Markets and Services Act 2007 (CMSA) for cancelling 25 loan agreements given by KSFI to 11 individuals, with the intention of causing wrongful loss to KSFI. 

The offences took place in 2019 in Seri Kembangan, Selangor, it said.  

"If convicted, Liew faces a mandatory jail term of not less than two years and not exceeding 10 years and is also liable to a fine not exceeding RM10 million.

"Liew claimed trial to all 11 charges in two separate courts and was granted bail of RM160,000 in total," it said. 

Liew, who appeared before Sessions Court judge Azrul Darus, was granted bail of RM80,000 with two local sureties and also ordered to report to the SC’s investigating officer at the SC’s office on a bimonthly basis as an additional bail condition.

Separately, Liew was granted bail of RM80,000 with one local surety before Sessions Court judge Norma Ismail and was also imposed with the bimonthly reporting as an additional bail condition.

"The SC did not seek for Liew’s passport to be surrendered as his passport had already been surrendered to court in a separate matter in May 2025," it noted.

Previously on May 16, 2025, Liew was charged by the SC in an unrelated matter relating to the furnishing of false financial statements and falsification of records of London Biscuits Bhd. Liew had similarly claimed trial to all the charges and the matter is scheduled for hearing in May 2026, according to SC.

-- BERNAMA