KUCHING: A local money-changer company has been charged in a Sessions Court here yesterday for operating without a licence from Bank Negara Malaysia and failing to display the licence.
Wanlikamas Sdn Bhd was charged before Judge Dayang Ellyn Narisa Abang Ahmad under Section 23(1) Money Services Business act 2011. The company, represented by its director Lu Guan Ai, allegedly committed the offences at its premises located at the lower ground floor of a shopping mall at Jalan Datuk Tawi Sli on Oct 29 last year.
The Section provides for a fine of not more than RM5 million or jail term of not more than 10 years, or both upon conviction.
The judge allowed Lu RM30,000 bail in two sureties pending pretrial case management on Feb 13 and trial dates set for March 9-11 next year.
Bank Negara Malaysia officers Hardeep Kaur and Alving Ong appeared for the prosecution.
According to the prosecutors, this was the first such case in Kuching.