Kenyataan Media
PUBLIC REPRIMAND AND FINE ON QUALITY CONCRETE HOLDINGS BERHAD
13 Nov 2007
- Bursa Malaysia Securities Berhad (“Bursa Securities”) hereby publicly reprimands and imposes a fine of RM4,000 on Quality Concrete Holdings Berhad (“the Company”) for breach of paragraph 9.22(1) of the Bursa Securities LR.
- Paragraph 9.22(1) of the Bursa Securities LR states that a listed issuer must give Bursa Securities for public release, an interim financial report that is prepared on a quarterly basis, as soon as the figures have been approved by the board of directors of the listed issuer, and in any event not later than 2 months after the end of each quarter of a financial year.
- The Company has breached paragraph 9.22(1) of the Bursa Securities LR for failure to submit its quarterly report for the quarter ended 31 July 2007 (“2nd QR 07”) on or before 30 September 2007. The Company only submitted the 2nd QR 07 to Bursa Securities for public release on 4 October 2007.
- The public reprimand and fine were imposed pursuant to paragraph 16.17 of the Bursa Securities LR after taking into consideration various relevant factors.
- Bursa Securities views the above contravention seriously and hereby cautions the Company and its Board of Directors on their responsibility to maintain appropriate standards of corporate responsibility and accountability in order to achieve greater disclosure and transparency to its shareholders and the investing public.
- Whilst Bursa Securities has not made a finding that any of the directors of the Company caused or permitted the aforesaid breach of paragraph 9.22(1) of the Bursa Securities LR by the Company, Bursa Securities nevertheless wishes to highlight that it is the responsibility of directors of listed companies to maintain appropriate standards of responsibility and accountability within the company and amongst its officers and employees including, amongst others, an awareness of the importance of compliance with the Bursa Securities LR. The list of directors of the Company at the material time is as follows:-
- Tiang Ming Sing
- Tiang Ching Kok
- Edmund Goh Chze Jin
- Datuk Hajjah Raziah @ Rodiah Binti Mahmud
- Robin Lo Bing
- Michael Ong Kee Tuan