Pestech CEO And Executive Chairman Deny The RM10.6 Million Abetment Charges

Both Pestech Executive Chairman Mr. Lim Ah Hock and Mr. Lim Pay Chuan the Managing Director and Group Chief Executive Officer of the Company were charged in the Sessions Court for allegedly committing offences under Section 109 read together with Section 403 of the Penal Code.   

They were both accused of abetting the misappropriation of assets of Pestech Technology Sdn. Bhd, its wholly-owned subsidiary relating to four payments amounting to RM10.6 million.  The Public Prosecutor has issued one charge to Lim Ah Hock and three charges to Lim Pay Chuan for the offences related under the Sections.

The directors were investigated on the Payments paid to a consulting company. PTECH was alleged to have made the payments for works not rendered by the consulting company. Both were alleged to have abetted the CEO of PTECH for the Payments.

On 9 November 2022, there are four charges brought against the CEO of PTECH under Section 403 of the Penal Code while notices dated 25 January 2023 were served to Ah Hock and Pay Chuan to be present at Sessions Court.

In response to news reports, Pestech said both directors have strenuously denied and claimed trial in respect of all the charges and allegations against them. Ans that they will defend and clear themselves of the said charges and allegations in court, as both individuals have represented that neither of them had benefitted from the Payments.

It added that the Directors have provided comprehensive explanations to the Board and the Board, after due consideration, decided and concurred unanimously that it is not necessary to take any action against them until the court decides otherwise.

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