Latest news with #MBSB
Daily Express
14-06-2025
- Daily Express
RM24.2 million bank fraud: 3 jailed
Published on: Saturday, June 14, 2025 Published on: Sat, Jun 14, 2025 By: Jo Ann Mool Text Size: Left: Sugumaran and Hasran being led to the courthouse. Subramaniam (right). Kota Kinabalu: Three out of 10 individuals charged in connection with an organised criminal group linked to the RM24.2 million fraudulent bank withdrawals were jailed five years each by the High Court here Friday. Self-employed Sugumaran K. Ponniah, 56; Subramaniam Thangavelu, 57, a primary school teacher; and Hasran Magin, 47, a fisherman, pleaded guilty separately before Judge Datuk Duncan Sikodol to an alternative charge under Section 130W of the Penal Code for assisting the organised criminal group. Advertisement Sugumaran, Subramaniam and Hasran committed the offence last year at MBSB Bank branches here between May 13 and July 3; May 9 and July 4; and April 26 and July 1, respectively. The alternative charge carries a jail term of up to 10 years on conviction. In delivering his ruling, Duncan held, among others, that the offence had serious implications for the public and customer confidence. He said such actions could lead to economic collapse and widespread distrust among customers. Duncan ordered the three to serve the sentence from their respective date of arrest. Earlier, presenting the facts of the case, the prosecution informed the court that a police report was lodged on June 27, 2024 by an Assistant Superintendent of Police from the Sabah Contingent Commercial Crime Investigation Department (CCID) based on intelligence on an organised criminal group suspected of manufacturing fake identity cards and using them to commit large-scale financial fraud. Acting on the information, police arrested Sugumaran, Subramaniam and Hasran, respectively, at the roadside near Jalan Pahlawan, here, at 4pm on July 8, 2024 and handed them over to the Investigating Officer for further investigation. Investigations revealed that the three had assisted an organised criminal group in committing criminal breach of trust by a clerk or servant, using forged valuable securities, namely, fake identity cards, to help the group obtain financial gain. With the help of Sugumaran, Subramaniam and Hasran, the group fraudulently withdrew large sums of money from several fixed deposit accounts of the MBSB branches in Kota Kinabalu using fake identity cards, the court heard. Investigations also revealed that the organised criminal group assisted by the three was involved in the commissioning of serious offences under investigation under Section 408 of the Penal Code, read together with Section 120B of the Penal Code, as in Menggatal Report: A case which involved two unauthorised withdrawals from the fixed deposit account of Wang Su Sing at the MBSB Alamesra branch — RM2 million on April 26, 2024 and RM7 million on April 30, 2024. Tanjong Aru Report: A case related to the wrongful withdrawal of funds from the fixed deposit account of Ananthan a/l Sinivesan at MBSB Lintas Jaya. Two transactions were recorded — RM2 million on May 9, 2024 and RM4 million on May 10, 2024. Menggatal Report: At the same MBSB Lintas Jaya branch, two fraudulent withdrawals were made from the account of Edgar Ralph Fernandez — RM2 million on May 17, 2024 and RM3.7 million on May 21, 2024. Another Menggatal Report which involved one transaction at the MBSB Alamesra branch, where RM3.5 million was unlawfully withdrawn from the fixed deposit account of Karina Ang Li Li on June 5, 2024. Counsel Datuk Ram Singh, Dominic Chew and Azhier Farhan, representing Subramaniam, Sugumaran, and Hasran, respectively, requested for a lenient sentence of less than three years by submitting, among others, that it was their first offence, they were remorseful and that the conduct was non-violent. Azhier also submitted that all monies involved in the fraudulent transactions were fully reimbursed by MBSB, while Ram added that Subramaniam is an English teacher for 18 years and aware and sad of losing all the pensions benefit. Meanwhile, the prosecution urged the court to impose an appropriate sentence, stressing the seriousness of the offence, the public interest, the need for deterrence and that the guilty plea should not be the primary consideration. Deputy Public Prosecutor (DPP) Datuk Nazran Mohd Sham also submitted that the accused's role cannot be viewed singularly and separately and that the case had originated from an investigation under Sosma, which, he stressed, reflected the seriousness of the offence. Nazran further submitted that the fact that the monies have been recovered did not reflect the full picture. The recovered monies were payments made by the bank's insurance. The actual sums taken have not been fully recovered, not even 50 per cent. As such, the losses affected not only the bank but also public trust in the financial system, he said, among others. Together with Nazran were DPPs Shafiq Hasim, Mohd Ashraf Adrin Kamarul and Yazid Mustaqim Roslan, while Ram was with counsel Prem Elmer Ganasan. Meanwhile, another accused, Nasir Abdul Rasid, had also earlier pleaded guilty to the alternative charge but later disputed the facts of the case. The remaining six accused - Josepin J. Langkan, Leong Hin Ping, Vireonis Jonok, Mazlani Jenuary and Iren Chin Nyuk Thien and Christina @ Caroline Pianus Etip (both bank managers) who were separately charged with being members of an organised crime group involved in serious offences for the material benefit of the group led by Josepin J. Langkan between April 26, 2024 and July 10 the same year at the MBSB Bank branches - together with Nasir would have their case mentioned on July 18. The charge under Section 130V(1) of the Penal Code carries a jail term of between five years and 20 years on conviction. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Daily Express
13-06-2025
- Daily Express
Three jailed over RM24.2 million bank fraud
Published on: Friday, June 13, 2025 Published on: Fri, Jun 13, 2025 Text Size: Filepic of the accused being escorted to court complex. KOTA KINABALU: Three individuals were each sentenced to five years in prison by the High Court here on Friday for assisting an organised criminal group involved in a RM24.2 million fixed deposit fraud. Self-employed Sugumaran K. Ponniah, 56, teacher Subramaniam Thangavelu, 57, and fisherman Hasran Magin, 47, pleaded guilty separately before Judge Datuk Duncan Sikodol. Advertisement The offences took place at the MBSB branch here between April and July last year. They were convicted under Section 130W of the Penal Code, which provides for up to 10 years' imprisonment. The judge ordered the jail terms to begin from the respective dates of their arrest. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
The Star
27-05-2025
- Business
- The Star
MBSB reports 1Q net profit up 8.1% to RM85mil
KUALA LUMPUR: MBSB Bhd has posted a higher net profit of RM84.67mil in the first quarter ended March 31 (1Q25), an 8.1% increase against 1Q24's RM78.34mil, supported by higher net funded income and lower impairment provisions. Revenue was 2.8% lower at RM868.02mil from RM893.45mil previously, the group said in a Bursa Malaysia filing yesterday. 'The lower revenue is mainly due to lower profit income for loans, financing and advances. The impairment allowance for the quarter was RM28.1mil, contributed by additional provisioning for retail portfolios,' the financial services company said. In a separate statement, MBSB said total gross financing remained consistent at RM42.6bil because the group had maintained a disciplined financing posture in line with prevailing market dynamics. Meanwhile, its current and savings account ratio improved to 9.26%, with a RM700mil increase in balances over the year, particularly from commercial and corporate clients. Group chief executive officer Rafe Haneef said its integration with MIDF has opened up new capabilities and created opportunities to reach a broader customer base. He said MBSB's priorities for the remainder of this year include enhancing small and medium enterprise propositions, expanding digital touchpoints, and improving customer experience. 'With transformation initiatives underway, the group remains focused on long-term sustainability and building a more agile, customer-focused organisation,' he added. — Bernama
The Star
26-05-2025
- Business
- The Star
MBSB 1Q net profit up 8.1% to RM84.67mil, new opportunities from MIDF integration
KUALA LUMPUR: MBSB Bhd has posted a higher net profit of RM84.67 million in the first quarter ended March 31, 2025 (1Q FY2025), an 8.1 per cent increase against 1Q FY2024's RM78.34 million, supported by higher net funded income and lower impairment provisions. Revenue was 2.8 per cent lower at RM868.02 million from RM893.45 million previously, the group said in a Bursa Malaysia filing today. "The lower revenue is mainly due to lower profit income for loans, financing and advances. The impairment allowance for the quarter was RM28.1 million, contributed by additional provisioning for retail portfolios,' it said. In a separate statement, MBSB said total gross financing remained consistent at RM42.6 billion because the group had maintained a disciplined financing posture in line with prevailing market dynamics. Meanwhile, its current and savings account ratio improved to 9.26 per cent, with a RM700 million increase in balances over the year, particularly from commercial and corporate clients. Group chief executive officer Rafe Haneef said the integration with MIDF has opened up new capabilities and created opportunities to reach a broader customer base. He said MBSB's priorities for the remainder of 2025 include enhancing small and medium enterprise propositions, expanding digital touchpoints, and improving customer experience. "With transformation initiatives underway, the group remains focused on long-term sustainability and building a more agile, customer-focused organisation,' he added. - Bernama
Daily Express
22-04-2025
- Daily Express
RM24.2 million fixed deposit fraud: Eight submit representation letters to AGC
Published on: Tuesday, April 22, 2025 Published on: Tue, Apr 22, 2025 By: Jo Ann Mool Text Size: The case was fixed for mention on Monday, for the parties to update the court on the status of the representations submitted by the accused. Kota Kinabalu: Eight of the 10 individuals, including two bank managers, charged with being members of an organised crime group linked to fraudulent withdrawal of RM24.2 million from fixed deposit accounts, have submitted letters of representation to the Attorney-General's Chambers (AGC) regarding the case. Deputy Public Prosecutor Datuk Nazran Mohd Sham informed High Court Judge Datuk Duncan Sikodol on Monday that the prosecution had received representations from eight accused persons, namely Josepin J. Langkan, Leong Hin Ping, Vireonis Jonok, Hasran Magin, Subramaniam Thangavelu, Sugumaran K. Ponniah, Mazlani Jenuary and Nasir Abdul Rasid. Nazran said that the eight had submitted representations for the charges to be reviewed. As for the other two remaining accused persons, Nazran said they are considering submitting representation letters as well. The two are Iren Chin Nyuk Thien and Christina @ Caroline Pianus Etip. The case was fixed for mention on Monday, for the parties to update the court on the status of the representations submitted by the accused. The 10 were separately charged with being members of an organised crime group involved in serious offences for the material benefit of the group led by Josepin J. Langkan between April 26, 2024 and July 10 the same year at the MBSB branch, here. They are contractor Josepin J. Langkan, 38; Subramaniam Thangavelu, 56, a teacher; Nasir Abdul Rasid, 60, a pensioner; Iren Chin Nyuk Thien, 38, and Christina @ Caroline Pianus Etip, 53, both branch bank managers; Sugumaran K. Ponniah, 56, a self-employed; Vireonis Jonok, 35, an unemployed; Leong Hin Ping, 62, a pensioner; Hasran Magin, 46, a fisherman; and Mazlani Jenuary, 53, an unemployed. The charges stated that Josepin allegedly committed the crime between April 26 and June 17, Subramaniam (between May 9 and July 4), Nasir (between April 26, and July 1), Chin (between April 26, and June 13), Christina (between May 9 and June 17), Sugumaran (between May 17 and July 3), Vireonis (between June 5 and June 26), Leong (between April 26 and July 10), Hasran (between April 26 and June 1) and Mazlani (between April 26 and July 4). The 10, on Nov 7, 2024, claimed trial to the charge under Section 130V(1) of the Penal Code, which carries a jail term of between five and 20 years, on conviction. Duncan fixed May 27 and June 5 for mention to update the court on the representations by the accused. The court also directed that the trial date previously set for May 13-15 be vacated. Josepin, Leong and Vireonis were represented by counsel Hairul V Othman and Luke Ressa Balang; Subramaniam was represented by counsel Datuk Ram Singh and Prem Elmer Ganasan; Sugumaran, Nasir and Mazlani were defended by counsel Dominic Chew and Ariel Dasan; Chin was represented by counsel Mohd Al Hafidz Mohd Lokman and Luqman Syazwan Zabidi; Christina was represented by counsel Arthur and Hasran was represented by counsel Azhier Farhan. All accused, except Chin and Vireonis, were ordered to be remanded further. Chin and Vireonis were released on extended court bail. * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
