Court freezes RM169m worth of assets belonging to Asia Media founder Ricky Wong

R. Loheswar
Malay Mail Social Logo

KUALA LUMPUR, May 10 — The Kuala Lumpur High Court has granted an interim order for the Securities Commission Malaysia (SC) to freeze the assets of Datuk Wong Shee Kai, or better known as Ricky Wong.

The grant was made on May 8, 2020 and stems from SC’s suit against the defendants in relation to securities fraud offences involving Bright Packaging Industry Berhad under Section 179 of the Capital Markets and Services Act 2007 (CMSA).

“The order, obtained under Section 360 of the CMSA, prohibits Wong, his mother Teh Sew Wan, and a company owned by them, Wong SK Holdings Sdn Bhd, from dealing with assets and properties to the value of RM169,223,500.00.

“In granting the Order, Judicial Commissioner Anand Ponnudurai also required the three defendants to disclose a full, complete and accurate account of their respective assets within and outside Malaysia,” the SC said in a statement.

“This Order will bind all the defendants and also prohibit any person from knowingly assisting or permitting any dealings with the defendants’ assets and properties.”

A warrant of arrest was issued against Wong by the Kuala Lumpur Magistrate’s Court on December 27 last year for failing to appear before the SC’s investigating officer as required under the law.

Wong was wanted under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act (AMLATFPUAA) 2001 for money laundering. He is the founder of broadcasting, advertising and digital media company Asia Media Group Bhd.