PetraX5 directors charged with forging share transfer forms in Malaysia
Three directors of aerospace-related company PetraX5 pleaded not guilty at the Kuala Lumpur Magistrates’ Court on Tuesday to charges of forging share transfer forms. The case involves a document dated 16 Feb 2026 that was allegedly forged on 12 May at the company’s premises in Ara Damansara.
Highlights
- Ahmad Suhaimi Abdul Halim, Raja Shazreen Petra Raja Azman Shah and Mohamad Haziq Aiman Shamsuddin were jointly charged with forging a share transfer form for PetraX5 Sdn Bhd.
- The charge was brought under Section 471 of the Penal Code, which carries a maximum sentence of two years’ imprisonment, a fine, or both if convicted.
- The court granted bail of RM4,500 for each accused with one surety and set 12 Jan for the case mention.
This article was translated from the original. Read the original version by our correspondent here.
Charges and bail decision
As reported by The Edge Malaysia, Ahmad Suhaimi Abdul Halim, Raja Shazreen Petra Raja Azman Shah and Mohamad Haziq Aiman Shamsuddin were jointly charged with forging a share transfer form for PetraX5 Sdn Bhd. The three accused are aged 44, 32 and 28, respectively, and each pleaded not guilty before Magistrate Amira Sariaty Zainal.The charge was brought under Section 471 of the Penal Code, punishable under Section 465 of the same code, read together with Section 34. If convicted, they face a maximum prison sentence of two years, a fine, or both.
Lawyers’ submissions and next steps
Deputy public prosecutor Syed Ahmed Khabir Abdul Rahman proposed bail of RM10,000 for each accused with one surety. However, lawyer Kailash Sharma, representing Ahmad Suhaimi, and Muhammad Amin Othman, representing Raja Shazreen Petra and Mohamad Haziq Aiman, sought a lower amount, citing their clients’ family commitments and cooperation throughout the investigation.The court then granted bail of RM4,500 for each accused with one surety and set 12 Jan for the case mention. The proceedings have drawn further attention to corporate governance and compliance with share ownership documentation among local companies.
In our previous report on the impact of the 1MDB scandal on governance , we explained how failures in controls, audits and checks and balances continue to fuel debate over who should be held accountable when organisational oversight breaks down. The article also examined the role of boards of directors, the importance of stronger whistleblower protections, and calls for internal auditors to take a more proactive role in detecting risks early rather than merely reviewing past failures.
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