The Malaysia Securities Commission has charged Dato’ Sri Liew Yew Chung, a former chief executive officer and Non-Independent Non-Executive Chairman of Khee San Berhad, with 11 offences for allegedly causing wrongful loss of RM7.12 million to Khee San Berhad’s subsidiary, Khee San Food Industries Sdn Bhd. The charges, brought under section 317A(1) of the Capital Markets and Services Act 2007, relate to the cancellation in 2019 of 25 loan agreements issued by the subsidiary to 11 individuals totalling RM7,119,465, allegedly carried out with the intention of causing wrongful loss. If convicted, the offence carries a mandatory imprisonment term of two to 10 years and a fine of up to RM10 million. Liew pleaded not guilty to all charges and was granted total bail of RM160,000 with local sureties, with a bimonthly reporting requirement to the Securities Commission’s investigating officer. The Securities Commission did not seek surrender of Liew’s passport because it had already been surrendered to court in a separate matter in May 2025. The release also notes a prior unrelated Securities Commission case against Liew involving alleged false financial statements and falsification of records at London Biscuits Berhad, which is scheduled for hearing in May 2026.
Malaysia Securities Commission 2026-01-05
Malaysia Securities Commission charges former Khee San Berhad CEO over RM7.12 million alleged wrongful loss at subsidiary
The Malaysia Securities Commission charged Dato’ Sri Liew Yew Chung, former CEO and Non-Independent Non-Executive Chairman of Khee San Berhad, with 11 offences under the Capital Markets and Services Act 2007 for allegedly causing a wrongful loss of MYR 7.12 million to a subsidiary. Liew, who pleaded not guilty, faces potential imprisonment and fines, with bail set at MYR 160,000 and a bimonthly reporting requirement; his passport remains surrendered due to a separate case involving alleged financial misconduct at London Biscuits Berhad.