Nasioncom’s founder, Datuk Chee Kok Wing, 44 was charged in the Sessions Court (28/5/07) for the following accusations:

 
1. causing the issuance of NasionCom Holdings’ Jan 31, 2005 prospectus that contained misleading information regarding the group’s “top 10 customers” for the period ended July 31, 2004. 

2. furnishing a false statement, contained in NasionCom Holdings’ 2005 annual report garding its revenue to the SC between June 28 and 29 last year.  
 

3. allegedly authorising the making of false statements in NasionCom Sdn Bhd’s documents required under the Companies Act 1965 for profit and loss accounts and balance sheets. Those documents comprised sales invoices, bank deposit slips, dealer agreements and debtor ledgers. (Apparently, Nasioncom’s group revenue of RM194.98 million as reflected in its 2005 financial statements contained a total of RM143.11 million sales that were not transacted. These sales were recorded in the financial statements of two Nasioncom subsidiaries, namely Nasioncom Sdn Bhd and Express Top-up Sdn Bhd. )
 

Others details:

• Chee( now non independent non executive director of Nasioncom) was charged together with former NasionCom Holdings ex-executive director Shamsul Khalid Ismail (53), who is now working part-time for another company. 
• Mah Soon Chai (55), the general manager of Express Top Up Sdn Bhd – a NasionCom subsidiary –was charged with abetting the parent company to furnish the false statement between Jan 4, 2005 and June 29 last year. Mah, 55, is accused of committing the offence at Express Top Up’s premises in Bandar Puchong Jaya.
• All three men claimed trial to the charges. 
• Defendants lawyers are K. Ganesh & Walter Pereira who are representing all three
• Sessions Court judge Akhtar Tahir allowed bail at RM200,000 for Chee, RM100,000 for Shamsul Khalid and RM50,000 for Mah and ordered the surrender of their travel documents. 
• All three posted bail. 
• SC prosecuting officers are Ben Teoh and DPP Foo Lee Mei, and the Companies Commission’s prosecutors A. Narainasami and Azmil Haron. 
• Trial is fixed for Nov 21 to 23.  

Incidentally, the external auditors/reporting accountants for the financial statements are:-

(1) PriceWaterhouseCoopers ( year ended31/12/2004)

(2) changed to Deloitte KassimChan ( year ended 31/12/2005) 

Reported in the 31st December 2005 financial statements, the following shareholdings are indicated:

Shares ( @ Rm0.10 per share)

Datuk Chee Kok Wing :

Direct shareholding    - 123,759,980        Indirect shareholding -  201,440,000

whilst Shamsul’s portion:

Direct shareholding  - 1,200,000              Indirect shareholding - 47,440,000