Founder and chairman of Phison Electronics Corp, Datuk Pua Khein Seng, was found guilty by a Taiwan district court of violating the country’s Securities and Exchange Act. – SoyaCincau pic
KUALA LUMPUR, Nov 4 – Malaysian Datuk Pua Khein Seng who invented the pen drive is looking to appeal his two-year jail sentence in a Taiwan court.
The 47-year-old founder and chairman of Phison Electronics Corp was found guilty by a Taiwan district court of violating the country’s Securities and Exchange Act.
Citing a statement from Phison, local news portal Malaysiakini reported that Pua is seeking to appeal against his October 29 conviction of the case that first came up in August 2016.
“Pua presents his regret for the judgment and will discuss with attorneys to determine corresponding matters and appeal this case to the court of the second instance,” it was quoted as saying.
According to the news report, Phison asserted that Pua made a “special business arrangement” to counter severe competition in the 2008 financial crisis as he controlled multiple companies.
Malaysiakini reported that Phison supports Pua’s appeal as the deal he cut was for the company’s long-term interests and had not harmed their reputation nor stakes.
The company was also reported saying it had cooperated with Taiwan’s financial regulators and revised its financial report and found nothing irregular.
“Phison’s board members have had discussions to the court judgment, and they all support and ask Pua to continue to implement his duties to lead the company.
“Therefore, for the company’s overall interest, Mr Pua will appeal the judgment to the court of the second instance and will continue settlement discussions with Securities and Futures Investors Protection Center,” Phison was quoted as saying.