Alam Maritim CEO charged with fraud over daily charter rate of ship

 Azmi Ahmad claims trial to both counts.

Alam Maritim Resources Bhd group managing director and CEO Azmi Ahmad was charged today at the Kuala Lumpur sessions court.

KUALA LUMPUR:

Alam Maritim Resources Bhd group managing director and CEO Azmi Ahmad was charged in the sessions court here today with two counts of fraud related to the daily charter rate of a vessel.

Azmi, 67, pleaded not guilty after the charges were read out before judge Suzana Hussin.

Azmi is charged with defrauding TH Alam Management Sdn Bhd principal officer Iskandar Zaffa, 48, by concealing the actual offer of daily charter rate dated Aug 24, 2023, which allocated RM80,500 per day in the work order.

The act allegedly prompted Iskandar to agree to sign the Bimco Supplytime 2017 with a daily charter rate of RM70,000 per day between Alam-JV DP2 (L) Inc and Alam Maritim (M) Sdn Bhd.

Azmi is also charged with defrauding the same individual by concealing the actual daily charter rate offer dated Jan 15, 2024, which allocated a total of RM110,000 per day in the work order, thus prompting the man to sign Bimco Supplytime 2017 with a daily charter rate of RM78,000 per day between TH-Alam Management and Alam Maritim.

The offence was allegedly committed at a building in Jalan Radin Anum, Bandar Baru Sri Petaling here on Sept 6, 2023 and Jan 16 2024.

The charges were made under Section 417 of the Penal Code which provides for a maximum imprisonment of five years, a fine or both, upon conviction.

Deputy public prosecutor Noor Syazwani Mohamad Sobry offered bail of RM500,000. She said Azmi should also report to the Putrajaya Malaysian Anti-Corruption Commission (MACC) office every three months and be prohibited from interfering with prosecution witnesses until the case is resolved.

However, lawyer Wan Ariff Ameer Wan Normazlan, representing Azmi, asked that the bail amount be reduced to RM100,000, saying his client had cooperated well throughout the investigation.

“The purpose of the bail is to ensure that my client attends court. My client has a wife and six children, the youngest of whom is six years old, and he also has health problems that require examination,” he said.

He also asked that the passport taken by MACC be returned to Azmi, saying his client was not a flight risk.

Suzana allowed bail of RM300,000 with one surety, with the additional conditions requested by the prosecution.

The court set Nov 18 for case mention and the submission of documents. - FMT