KUALA LUMPUR, Oct 22 — Bursa Malaysia Securities Bhd has publicly reprimanded FSBM Holdings Bhd and six of its directors for breaches of the Bursa Malaysia Main Market Listing Requirements (Main LR).
In a statement today, Bursa Malaysia said it had imposed total fines of RM375,600 on the six directors.
It said FSBM was publicly reprimanded for breaching the annual report that included the annual audited financial statements, together with the auditors’ and directors’ reports, for the financial year ended June 30, 2018 (AR 2018) on or before October 31, 2018 (Breach).
“FSBM had only issued the AR 2018 on December 31, 2019, after a delay of 14 months,” Bursa Malaysia said.
The exchange said FSBM was also required to review and ensure the adequacy and effectiveness of its financial reporting function.
In addition, FSBM must ensure all its directors and relevant personnel attend a training programme in relation to compliance with the Main LR pertaining to financial statements.
The finding of breach and imposition of the above penalties on FSBM and its directors were made pursuant to paragraph 16.19 of the Main LR upon completion of due process and after taking into consideration all facts and circumstances of the matter.
These include the materiality of the breach; impact of the breach on FSBM and shareholders, investors, the roles, responsibilities, knowledge and conduct of the directors. — Bernama
