KUALA LUMPUR (Aug 30): The Securities Commission Malaysia (SC) announced today that former executive director of Linear Corp Bhd Alan Rajendram Jeya Rajendram has been convicted by the Kuala Lumpur Sessions Court on Thursday (Aug 29) for knowingly authorising the furnishing of a false statement to Bursa Malaysia in 2009. 

Alan was sentenced to seven months jail and a fine of RM100,000 after he pleaded guilty to the offence under  369(b)(B) of the Capital Markets and Services Act 2007, the SC said in a statement today.

The false statement was in relation to an announcement made by Linear on Dec 29, 2009.  

In the announcement, Linear said its wholly owned LCI Global Sdn Bhd, had accepted a RM1.6 billion construction project awarded by Global Investment Group, a Seychelles-incorporated company, to design and construct a district cooling plant of 350,000 RT (refrigeration tonnes) in Manjung, Perak, for what was termed the ‘King Dome Project’. 

"Evidence showed that Alan knew that the said statement was not true when he authorised the furnishing of the said information to Bursa," SC said. 

Alan was initially acquitted by the Sessions Court in 2017, but the High Court overturned the acquittal on July 31 this year. Subsequently, Alan pleaded guilty to the charge at the Sessions Court yesterday. 

According to Bloomberg data, Linear manufactures cooling towers, trades water tanks, provides water treatment services, and installs air-conditioners and control valves. It was delisted from Bursa Malaysia in 2012.