Tag: corporate governance

YNH Property Berhad and Rapid Synergy Berhad face a bombshell RM 239.5 million joint venture scandal, with hidden transactions and potential conflicts of interest involving close family members of the Yu Syndicate.

Court documents reveal that KNM Group CEO Lee Swee Eng has been charged with insider trading, avoiding a RM 3.67 million loss by selling shares with insider knowledge. This follows prior reprimands and fines for eight KNM board members, including Lee. Shareholders may be entitled to damages.

Malaysia faces backlash due to political and corporate scandals, including the 1MDB scandal and KNM Group CEO Lee Swee Eng's involvement in financial irregularities. Analysts argue that weak government policies are to blame for the recurring corporate misdeeds, urging stronger enforcement and transparency to restore public trust and investor confidence.

KNM Group's Director and CEO Lee Swee Eng, along with Director Chew Fook Sin, were found guilty by the Indonesian Supreme Court of harming creditors by illegally transferring assets from a bankrupt company. This ruling raises questions about asset recovery, impact on creditors, and lack of disclosure to KNM shareholders. Court documents and decisions are available at the end of the story.