KUALA LUMPUR – Former editor-in-chief of The Edge, Ahmad Azam Mohd Aris, has been charged with two counts of criminal defamation over two articles published respectively in 2020 and 2021 on purported penny stock manipulations.
He claimed trial to both charges at the Petaling Jaya magistrates’ court, according to The Edge.
The publication’s contributing editor, Shanmugam Murugasu, who is currently overseas, was also jointly accused in one of the charges but was granted a discharge not amounting to acquittal pending his return to the country.
Both cases were heard before magistrates Nurshahira Abdul Salim and Zhafran Rahim Hamzah.
The charges were filed under Section 500 of the Penal Code, which carries an imprisonment of up to two years, or a fine or both.
According to the first charge sheet, Azam was accused of tarnishing the reputation of Metronic Global Bhd non-executive director Datuk Kua Khai Shyuan and DGB Asia Bhd over a report published in The Edge’s weekly issues dated September 21 to September 27, 2020.
The second charge, which implicates both Azam and Shanmugam, concerns an article dated April 12 to April 18, 2021 that was deemed to have tarnished the reputations of Kua, Metronic Global, DGB Asia, Trive Property Group Group Bhd and MNC Wireless Bhd.
The two articles alleged that a group of individuals acting in concert – who control a number of publicly listed companies – are manipulating penny stocks.
In one of the reports, it was claimed that the authorities were looking into the individuals over the alleged offence, as well as other suspected crimes involving asset-shuffling exercises, siphoning of funds from companies, and money-laundering activities.
Investigations into the two cases were initiated following a report lodged by Kua on July 7 last year.
Deputy public prosecutors Siti Maryam Jamilah Md Kamal and Farhanah Fuad Mohamad Faiz had proposed that bail of RM8,000 be fixed for each of Azam’s cases.
However, defence counsel Rajsurian Pillai argued that his client had been very cooperative with the investigating officer; that the offence committed is not arrestable; and noted that he had attended today’s court proceeding despite only being notified late yesterday evening.
He also argued that bail is not meant to serve as a punishment, and as such requested bail of between RM500 and RM1,000.
Nurshahira allowed bail of RM500 with one surety, while Zhafran allowed bail of RM2,500 with one surety.
The Edge editor-in-chief Kathy Fong has agreed to act bailor for Azam, who retired from the position in November last year.
The magistrates have fixed November 22 for the next case management. – The Vibes, September 13, 2022
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