Perwaja Steel's Eric Chia acquitted of CBT

2007.06.26

PUTRAJAYA: Tycoon Tan Sri Eric Chia Eng Hock was acquitted Tuesday by the Sessions Court of the criminal breach of trust charge brought against him more than three years ago.

Chia had maintained his innocence since he was first charged on Feb 10, 2004.

Sessions Court judge Akhtar Tahir presided over the trial, which lasted 43 days and saw 29 prosecution witnesses testifying against the 74-year-old former managing director of Perwaja Steel Sdn Bhd.

Chia had been charged with misappropriating RM76.4mil from Perwaja Rolling Mill and Development Sdn Bhd in his capacity as its managing director at Level 13, Menara UBN at 10 Jalan P. Ramlee on Feb 19, 1994.

He was alleged to have dishonestly authorised a payment for the sum to the account of Frilsham Enterprise Incorporated with the American Express Bank Limited, Hong Kong, for technical assistance provided by NKK Corporation Japan for the “Beam and Section Mill Plant project” in Gurun, Kedah, when in fact no such payment was due to NKK Corporation.

should be at least a penalty of million for least? an acquittance seem little suspicions....

go to web at datco.com.my .... ..