KUALA LUMPUR: The trial involving the accounting scandal in Transmile Group Bhd 14 years ago will continue on Nov 6, unless the defence and prosecution team can reach an amicable arrangement to resolve the case without proceeding to trial.

Sessions Court Judge Hasbullah Adam yesterday granted the time until next Wednesday for the defence team that represents Transmile founder and former chief executive officer Gan Boon Aun to come up with a counter proposal to resolve the case before the trial resumes.

During case management here yesterday, lead defence counsel Datuk Tan Hock Chuan requested for the trial date to be postponed if a settlement with the prosecution team could not be reached by then. He said his team will submit the counter proposal by this Friday (Nov 1).

“Our intention is to resolve the case quickly,” he told the judge.

However, Deputy Public Prosecutor Mohd Hafiz Mohd Yusof disagreed with the postponement and requested for the trial dates be maintained on Nov 6 and 7. He said his team will respond to the defence’s counter proposal before the scheduled date of the trial to continue.

As such, Hasbullah kept the trial dates. The court will only vacate the dates if the prosecution requests for more time to reply to and agree on the facts of the case, he said.

“If there is no settlement and there is no agreement on the facts of the case then the case will continue its trial on Nov 6 and 7, 2019. In addition, (Nov) 25 and 26 will also be set [for trial] if the case still could not be resolved during those dates,” Hasbullah said.

“It is the responsibility of the defense counsel to present any counter proposal to the prosecution as soon as possible so that the replies can be obtained before deduction on Nov 6,” Hasbullah added.

In July 2007, Gan, together with former Transmile chief financial officer Lo Chok Ping and former executive director Khiudin Mohamed were charged with abetting the company in making a misleading statement to Bursa in its quarterly report. The trio claimed trial.

The Securities Commission Malaysia withdrew the charge against Lo in May 2008 after he paid a RM700,000 compound, while Khiudin was acquitted of the charge in 2016.

The charge was related to a statement on the group’s revenue of RM338.4 million for the fourth quarter of FY06 and RM989 million for the entire FY06. However, a special audit revealed that the company only earned revenue of RM656 million for the full year and suffered an annual loss of RM126.3 million, instead of a reported profit of RM157.5 million.

For FY05, the company incurred losses of RM369.6 million instead of a profit of RM84.4 million.

After a tumultuous chain of events, Transmile was categorised as a Practice Note 17 company in 2010, and was then suspended and delisted from Bursa in 2011.