ATTA Global Group, in a bourse filing on Jan 31, said its executive chairman, Ooi Chieng Sim, has been charged for drug trafficking under Section 39(b)(1) of the Dangerous Drugs Act of 1952, following a raid on a portion of the company’s premises in Penang.
This has led to the suspension of Ooi as executive chairman of ATTA and its subsidiaries. Heng Huat Resources Group Bhd, of which Ooi is also the executive chairman, has redesignated him as a non-executive director.
The same bourse filing also revealed the list of seized and frozen assets, as well as ATTA’s plans moving forward.
The list revealed that the securities maintained in the Central Depository System accounts of the company, its subsidiary SMPC Industries Sdn Bhd, as well as those of executive director Ng Chin Ham have been suspended, while a banking account of ATTA’s subsidiary Metal Perforators (M) Sdn Bhd was also frozen.
Three properties located in Penang belonging to ATTA were seized, along with 14 properties belonging to its subsidiary Progerex Sdn Bhd.
A total of 11 motor vehicles, a mix of luxury vehicles, lorries and excavators, belonging to ATTA and its subsidiaries, were also seized.
ATTA said will appoint a solicitor to file a notice of claim for the release of the seized assets, covering banking accounts, CDS accounts and properties.
As of the stock’s suspension on Jan 16, ATTA’s shares were valued at 44.5 sen per share. – Jan 31, 2020
