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Their top management didn't give bonuses, so they gave them to themselves. How bold!
Two former directors of Sea Tackle Berhad, Chong Chi Sin (48) and Wong Poh Wah (49), were accused of abusing their positions to directly benefit themselves without the approval of shareholders at the company in Wangsa Maju on Jan 30, 2018, by paying themselves a bonus of RM200,000 each.
According to China Press, the verdict was announced recently. The two were charged with misusing company funds for personal bonuses, in violation of Section 218 (1) (c) of the Companies Act 2016, and were fined RM100,000 each.
Initially, both denied the guilt and requested a retrial, but on December 13, 2024, they changed their plea to guilty.
The judge sentenced the two to a fine of RM100,000 each, with an alternative of six months' jail if they failed to pay. They paid the fine immediately after the trial.
