Thursday, February 23, 2012
Hotel Owner on CBT Charge
A prominent hotelier has been charged with criminal breach of trust and is now on bail awaiting trial.
Yeo Lee Hee, the owner of Wira Hotel in Jalan Raja Laut and director of a string of companies presumably used company money without authorization for personal gains.
The Jalan Duta Kuala Lumpur Sessions Court has fixed two days beginning Feb 27, 2012 for his trial.
Yeo, 56, was first charged in Sept 2011 and came up for mention in December 2011. He posted bail of RM10, 000 while his passport was impounded.
According to Dang Wangi police where the report was first made against Yeo, the later allegedly misappropriated company funds in Kuantan, Pahang where his company is involved in the development of a Pasar Borong for the local authority.
One of the directors of DB Consortium Sdn Bhd, the developer of the RM70 million Pasar Borong, lodged a report against Yee after he was repeatedly told not to use company funds for personal gains.
Yee is the managing director of DB Consortium; having secured 70 per cent stake in the company after the previous managing director relinquished his majority stake due to illness.
If convicted, Yeo, who is also chairman and director of several companies including Choo Heng Leong Trading Sdn Bhd, HTH Development Sdn Bhd, Fu Yuen Sdn Bhd, Madah Perkayuan Sdn Bhd and Choo Heng Leong Co. Sdn Bhd can be jailed up to 20 years, whipped and fined.
Meanwhile in Kuantan, buyers of shop lots in the Pasar Borong mixed development project are perplexed because of a clause which the Kuantan Local Council incorporated in its agreement with DB Consortium.
The clause stipulates that the council can terminate or review the project awarded to the company if in case any one of the directors was involved in a CBT case, not withstanding the outcome of the preceding trial.
It is learnt that the company has collected part payment for the shop lots it is building adjacent to the Pasar Borong and thus far only piling work has been done.
In the Kuantan Bizpark project which covers over 13 acres DB Consortium is to build the Pasar Borong for the council for free and in return it would built and sell several shop lots in the open market.
Located at Jalan Tanah Putih, Kuantan, the project with a gross development value of RM70 million is scheduled to be completed by 2014.
Buyers are worried if the council pulls the plug on DB Consortium the project may be abandoned or its scheduled completion put off.