KUALA LUMPUR, Sept 4 — Bursa Malaysia Securities Bhd has publicly reprimanded Inch Kenneth Kajang Rubber PLC (Incken) and its directors for breaching the Bursa Malaysia Securities Main Market Listing Requirements (Main LR).
Three of its directors were fined a total of RM75,000.
In a statement today, Bursa Malaysia Securities said Incken failed to ensure its announcement dated Feb 25, 2011 on its fourth quarterly report for the financial year ended Dec 31, 2010 took into account the adjustment as stated in the announcement on April 29, 2011.
The failure caused a significant deviation between the companies’ unaudited and audited results.
Bursa Malaysia Securities also said Incken was required to carry out a limited review of its quarterly report submissions.
“The limited review must be performed by external auditors for four quarterly reports commencing from the quarterly report for the financial period ended Sept 30, 2013,” it said.
It added that Incken must ensure all its directors and relevant personnel attend a training programme on compliance with the Main LR pertaining to financial statements.
Bursa Malaysia Securities said Incken was also required to review and assess the adequacy and effectiveness of its financial reporting function. — Bernama
