KUALA LUMPUR, Oct 23 — The Securities Commission has obtained a court order for the appointment of BDO Binder Malaysia as a receiver over the affairs, assets and properties of RBTR Asset Management (RBTR).
The order also includes the assets and properties held RBTR on behalf of its clients.
The SC, in a statement today, said the court order from the Kuala Lumpur High Court, was obtained on Tuesday.
The appointment of a receiver was sought by the SC following an audit exercise on RBTR which raised concerns on the protection of clients' assets. This was also confirmed by complaints received from RBTR's clients, citing their inability to redeem investments made through the company.
The SC had in August launched an investigation into the affairs of RBTR as well as the activities of Locke Capital Investment (BVI) Ltd and Locke Guaranty Trust (NZ) Ltd. The two companies had allegedly held themselves out as fund managers in Malaysia in association with RBTR.
The ex-parte court order allows the receiver to, among others, take into possession all documents of RBTR, reconcile and access the accuracy of its investor's monies, operate its accounts and deal with clients of the company in respect of investments made by it.
The matter will be heard inter partes on Oct 29. — Bernama
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