KUALA LUMPUR, Dec 1 — The Securities Commission and an investment bank are investigating how an analyst’s report on a construction company contained information nearly identical to the company’s quarterly results that it preceded.
According to The Star Online, the analyst who works at the investment bank had prepared a research report on Vivocom International Holdings Bhd, which was released online a day before the company actually released its latest quarterly results.
“In the meantime, it is learnt that the analyst has been relieved of duties,” a source was quoted as saying in the report.
Yesterday, several blogs had noticed the research report that was released a day before Vivocom announced its earnings to Bursa Malaysia.
There are three research houses covering Vivocom: CIMB Research, MIDF Amanah Investment Research and Mercury Securities Sdn Bhd.
The research report has since been removed from the investment bank’s website.