KUALA LUMPUR (July 10): Two former executive directors of Axis Incorporation Bhd received jail sentences today for furnishing false statements to Bursa Malaysia Securities Bhd.

Lee Han Boon, 36, and Saipuddin Lim Abdullah, 58, were sentenced by the Sessions Court after they pleaded guilty today, the Securities Commission Malaysia (SC) said in a statement.

The two men admitted to furnishing false information to the stock exchange in relation to Axis' revenue of RM91.13 million, of which RM51.5 million was false, for the fourth quarter ended March 31, 2008.

Han Boon and Saipuddin also faced four other counts of the same offence in relation to Axis' consolidated income statement for all four quarters in its financial year ended 2007. Judge Azman Ahmad took into consideration these in sentencing the two men.

Han Boon was sentenced to seven months' imprisonment and fined RM200,000 while Saipuddin was sentenced to 12 months' imprisonment. Both of them were former substantial shareholders of the company.

The sentences were meted out following the two men's applications for a plea bargain, said the SC.

The trial against Han Boon and Saipuddin started in 2015. Hearing will continue against two other individuals, Koh Tee Jin and Lee Koon Huat, who were jointly tried with Han Boon and Saipuddin for the same offences.