KUALA LUMPUR, Dec 18 — Bursa Malaysia Securities Bhd has publicly reprimanded REV Asia Bhd (REV) (formerly known as CATCHA Media Bhd) for breaching the ACE Market’s listing requirements and for failing to ensure the accuracy of its quarterly reports announced to the market.
The quarterly reports were for the financial period ended March 31, 2013, June 30, 2013, Sept 30, 2013, and Dec 31, 2013, it said in a statement here.
“Pursuant to Rule 9.16(1)(a) of the ACE Listing Requirements (LR), a listed corporation must ensure that each announcement made is factual, clear, unambiguous, accurate, succinct and contains sufficient information to enable investors to make informed investment decisions,” it added.
It added the public reprimand was imposed after taking into consideration all facts and circumstances of the matter and upon completion of due process.
REV is also required to review and ensure the adequacy and effectiveness of its financial reporting function and carry out a limited review on its quarterly report submissions.
“The limited review must be performed by the company’s external auditors for four quarters commencing no later from the quarterly report for the financial period ended Dec 31, 2014,” it said.
In addition, the company must ensure all its directors and relevant personnel attend a training programme in relation to compliance with the ACE LR, particularly, pertaining to financial statements,” it added. — Bernama
