Chin Yoong Fung, 37, a director of a date palm plantation company appaears at the Kuala Lumpur Court Complex on Feb 27, 2019. — Sunpix by Zulkifli Ersal: A director of a date palm plantation company was charged at the sessions court here today with offering an unregistered date palm investment scheme to the public, by promising a lucrative return from the crop.
Chin was alleged to have offered the public to buy the share in the date palm investment scheme without the approved deed by Companies Commission of Malaysia . The charge, under Section 91 of the Companies Act 1965 and punishable under Section 94 of the same act, provides for a five-year imprisonment, or fine of RM100,000, or both, upon conviction.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: