The Malaysian Insight

THE Edge Communications Sdn Bhd has questioned the criminal defamation charges brought against its former editor-in-chief, Ahmad Azam Mohd Aris, and its contributing editor, M. Shanmugam.

Ho Kay Tat, the publisher and group CEO of The Edge Media Group, said in a statement today that he was shocked that the authorities were intervening in what should be a civil dispute.

“As a media that reports on the stock market and corporate sector extensively, we have a responsibility to highlight important matters to the investing public, including alerting them about how stock prices are being manipulated,” he said.

“We are, therefore, baffled as to why the police and the deputy public prosecutor’s (DPP) office of Kuala Lumpur are pressing criminal defamation charges against us for informing investors about stock market manipulation.

“If the complainant, who is a private businessman, feels that we have defamed him, the police and DPP should ask him to file a civil suit against us instead of using public resources.”

This morning, Azam and Shanmugam were charged with criminal defamation over two news reports on the abnormal surge in penny stocks in 2020 and 2021 at the Petaling Jaya magistrate’s court.

The cases are being heard before magistrates Nurshahira Abdul Salim and Zhafran Rahim Hamzah.

Azam was charged with tarnishing the reputation of Metronic Global Bhd non-executive director Kua Khai Shyuan, DGB Asia Bhd, Trive Property Group Bhd, Metronic Global Bhd and MNC Wireless Bhd. He pleaded not guilty to all charges. 

Shanmugam was, however, not present as he was overseas.

Nurshahira gave him a discharge not amounting to acquittal until he is back in the country, after which, he will be charged again. 

Nurshahira allowed Azam bail of RM500 in one surety, while Zhafran allowed him bail of RM2,500 in one surety.

Both magistrates fixed November 22 for the next case management. – September 13, 2022.