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KUALA LUMPUR – Two directors of a payment solution company pleaded not guilty to charges of misappropriation of property at the sessions court here today.
Brothers Ng Shih Chiow, 49, and Ng Shih Fang, 47, who are executive directors of Revenue Group Bhd, were charged under Section 403 of the Penal Code.
The section states that whoever misappropriates, converts to their own use, or causes another person to get rid of any property, could face between six months to five years in jail, a fine, and whipping.
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The siblings allegedly caused a CIMB bank officer to dispose of a Toyota Vellfire belonging to Revenue Group on October 3, 2018 without a resolution from the company’s board of directors.
The vehicle was purportedly registered under Shih Fang’s name.
Deputy public prosecutor Law Chin How applied for bail to be set at RM20,000 with one surety for each defendant and for the duo to surrender their passports to the court.
Amer Hamzah Arshad, the lawyer representing the brothers, requested they be released on bail due to their cooperation during the investigation.
The court allowed bail of RM10,000 with a surety for each defendant.
Case mention is set on April 14. – The Vibes, March 14, 2023
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