The Securities Commission Malaysia (SC) has charged Datuk Seri Liew Yew Chung, the former CEO and non-independent non-executive chairman of Khee San Bhd (KSB), for causing a wrongful loss of RM7.12 million to KSB’s subsidiary, Khee San Food Industries Sdn Bhd (KSFI).
According to the SC, Liew faces 11 charges under Section 317A(1) of the Capital Markets and Services Act 2007 (CMSA). The charges relate to the cancellation of 25 loan agreements given by KSFI to 11 individuals in 2019 in Seri Kembangan, Selangor, which allegedly resulted in the wrongful loss.
If convicted, Liew could face mandatory jail terms ranging from two to 10 years and a fine of up to RM10 million.
Liew has pleaded not guilty to all 11 charges in two separate courts and was granted bail totaling RM160,000. In the first case, Sessions Court judge Azrul Darus set bail at RM80,000 with two local sureties, requiring him to report to the SC’s investigating officer every two months. In the second case, Sessions Court judge Norma Ismail also set bail at RM80,000 with one local surety and the same bimonthly reporting condition.
The SC noted that Liew’s passport was not required to be surrendered, as it had already been handed over to the court in a separate matter in May 2025.
Earlier, on May 16, 2025, Liew was charged in an unrelated SC case involving false financial statements and falsification of records at London Biscuits Bhd. He had pleaded not guilty, and the matter is scheduled for hearing in May 2026.
