A former senior vice-president of Iskandar Investment Berhad (IIB), Rostam Razali, was fined RM20,000 by the Sessions Court in Johor Baru today for disclosing information on the estimated tender price for a road project three years ago.

Judge Mohd Nasir Nordin handed down the sentence on Rostam, 51, from Bandar Baru Bangi, Selangor, after he pleaded guilty to the charge.

Rostam was charged with using information acquired by virtue of his position as an officer in the company for his benefit by disclosing the estimated tender price for the road project, ‘ Projek 3: Pakej 3B-Pembinaan dan penyiapan Jalan Abu Bakar Interchange ’, in Johor Baru to a chief executive officer of Kimlun Sdn Bhd, Sim Tian Liang, at the office of the South Johor Investment Corporation Berhad, now known as IIB, in Johor Baru in early April 2008.

The offence, under Section 132(2)(b) of the Companies Act and punishable under Section 132(3), carries an imprisonment for five years and RM30,000 fine.

According to the facts of the case, Rostam had obtained the information from the project consultant, ARH Jurukur Bahan Sdn Bhd, and then passed it on to Sim.

Following which, Kimlun Sdn Bhd won the tender for the project on Oct 21, 2008.

Deputy public prosecutor from the Malaysian Anti-Corruption Commission, Noor Fazlin Hamdan, prosecuted, while Rostam was represented by lawyer Muhammad Afiq Mohamad Noor.

Rostam paid the fine.

- Bernama