Securities Commission Malaysia has charged Yong Man Chai, the former Chief Financial Officer of AT Systematization Berhad (now Erdasan Group Berhad), at the Kuala Lumpur Sessions Court for allegedly causing wrongful loss of RM7.821 million to the company. The case comprises 20 charges under section 317A(1) of the Capital Markets and Services Act 2007, alleging Yong made payments totalling RM7.821 million to Delta Million Dynamic Sdn Bhd, Midas Mode Sdn Bhd, LMC Multi Trading, Midland Sands Sdn Bhd and Silver Metal Sdn Bhd, with the intention of causing wrongful loss. The alleged offences occurred between July 2020 and October 2021 in Petaling Jaya, Selangor. Yong claimed trial to all charges and was granted total bail of RM350,000 across three separate courts, with conditions including surrendering his passport and monthly reporting to the SC’s investigating officer; conviction carries imprisonment of two to 10 years and a potential fine of up to RM10 million. The SC also noted that on 8 October 2025 the former Managing Director of AT Systematization Berhad was charged with causing wrongful loss of RM16.35 million, and that the charges against Yong were supported by cooperation with domestic and international law enforcement agencies, including INTERPOL and Malaysia Airports Aviation Security.
Malaysia Securities Commission 2025-11-12
Securities Commission Malaysia charges former AT Systematization CFO over alleged RM7.821 million wrongful loss
Securities Commission Malaysia charged Yong Man Chai, former CFO of AT Systematization Berhad, with 20 counts under the Capital Markets and Services Act 2007 for allegedly causing a wrongful loss of RM7.821 million. The charges involve payments to several companies intending to cause loss between July 2020 and October 2021. Yong claimed trial and was granted bail, while the SC highlighted cooperation with INTERPOL and other agencies in the investigation.