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PETALING JAYA: The Securities Commission (SC) received the green light to maintain the assets of ASIA MEDIA GROUP BHD
founder Wong Shee Kai, or Ricky Wong, who is currently wanted in connection with crimes under anti-money laundering laws.
The SC said that the Kuala Lumpur High Court had issued him on May 8 with a provisional order to freeze Wong’s assets, which is currently still free, and two others.
“The order stems from the SC lawsuit against the defendants regarding securities fraud offenses involving BRIGHT PACKAGING INDUSTRY BHD under Section 179 of the Capital Markets and Services Act of 2007 (CMSA), ”said the capital market regulator in a statement.
The order, obtained under CMSA Section 360, prohibits Wong, who holds a Datuk title; his mother Teh Sew Wan; and a company it owns, Wong SK Holdings Sdn Bhd, from asset and property management to the value of RM169.2mil, the SC said.
“In granting the order, Judicial Commissioner Anand Ponnudurai also required all three defendants to disclose a complete, complete and accurate account of their respective assets in and outside Malaysia,” he said.
“This order will compel all defendants and will also prohibit anyone from knowingly aiding or permiting any dealings with the defendants’ assets and property.” Under the terms of the order, banks are not allowed to exercise the right of set-off of any facility that they have been given to the defendants, ”he added.
The High Court further ordered that during the movement control order period, the service of this order to all defendants be considered valid if advertised in an English newspaper, SC said.
The SC said last month that it was seeking help from Interpol and the public to locate Wong.
The regulator said Wong, 38, was a wanted person and is currently on the loose after the Kuala Lumpur Court of First Instance issued an arrest warrant on December 27, 2019 for failing to appear before the investigating officer. of the SC.
Wong was the former CEO of Asia Media, but was removed as director during an EGM on July 25, 2019.
On February 25, 2019, he ceased to be a substantial shareholder after the disposition of eight million shares in an off-market deal.
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