KUALA LUMPUR (Oct 1): A company director was charged on Wednesday for soliciting a bribe of RM5 million — allegedly on behalf of the Securities Commission Malaysia (SC) — to block any legal action against an independent trust company, UBB Amanah Bhd.

P Kuhan Arunasalam was charged with a single count of seeking the sum from one V Siva Ananthan in July 2024 in a restaurant in Bangsar.

The charge was framed under Section 16a(A) of the Malaysian Anti-Corruption Commission (MACC) Act 2009, punishable under Section 24(1) of the same Act, which provides for a jail term not exceeding 20 years and a fine of at least five times the bribe amount, RM10,000, or whichever is higher, upon conviction.

The 39-year-old claimed trial to the charge. Sessions Court judge Suzana Hussin set bail at RM20,000 and for his passport to be impounded by the court. He is also to report to the MACC offices once a month.

Prosecution officer Selvam T Armugom prosecuted on Wednesday while lawyer Wan Shahrizal Wan Ladin appeared for the accused.

It is understood that Kuhan is attached to Spherix Sdn Bhd, which is a "one-stop-centre digital platform for compliance and traceability".

Following the court proceedings, the SC said it does not comment on specific cases or ongoing probes. "The SC also views seriously any unauthorised use of its name in any product endorsements or solicitations," the regulator said in a brief statement.