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Alam Maritim's CEO Steps Down Temporarily After Court Finds Him Guilty of Cheating

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Alam Maritim Resources' (KLSE:ALAM) group managing director and chief executive officer, Datuk Azmi bin Ahmad, has voluntarily taken temporary garden leave from his executive and management duties at the company with effect from Thursday, according to a same-day filing to the Malaysian stock exchange.

The move comes after he was charged with two alleged offences of cheating by the Sessions Court in Kuala Lumpur, Malaysia, on Thursday. Datuk Azmi bin Ahmad pleaded not guilty to both charges and claimed trial.

He remains a director of the company, and the group's business is expected to continue as usual

What else is happening in Asia?

Asia

Hearts and Minds Investments Posts Lower August Net Tangible Asset

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ASX:HM1
Asia

Cape EMS Partners with Helios PV to Distribute Battery Systems in Europe

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KLSE:CEB
Asia

White Energy Company Confirms Acquisition of Essential Global Resources, Oceltip Coal 2 Completed; Shares Fall 5%

White Energy Company (ASX:WEC) confirmed the completion of the acquisition of Essential Global Resources and Oceltip Coal 2, which has acquired the Tin Hut Creek project and associated assets, according to a Friday Australian bourse filing.White Energy issued 83.3 million fully paid ordinary shares to the shareholders of Essential Global as consideration for the acquisition of the membership interests in Essential Global. In connection with the Oceltip Coal 2 acquisition, the purchase price was AU$4.5 million, as adjusted for debts and other liabilities at completion.It also completed a placement to institutional and professional investors to raise AU$15 million at an issue price of AU$0.06 per share.Nathan Tinkler was appointed as Managing Director and Executive Chair of White Energy, succeeding Brian Flannery as Chairman.Its shares fell 5% in recent trading on Friday.

ASX:WEC