KUALA LUMPUR (Feb 14): The High Court has ruled in favour of the enforcement actions taken by Bursa Malaysia Securities against three former directors of TRANSMILE GROUP BHD [].
Bursa Malaysia said on Tuesday the court had Feb 9 dismissed the application for a judicial review of the enforcement actions taken against Gan Boon Aun, Khiudin Mohd @ Bidin and Shukri Sheikh Abdul Tawab.
To recap, on Sept 6, 2010, Bursa Malaysia publicly reprimanded and imposed a total fine of RM781,500 each on Gan and Khiudin and RM162,600 on Shukri for breaching paragraph 16.11(b) of Bursa Malaysia’s Listing Requirements.
The former directors were found to have permitted, knowingly or where they had reasonable means of obtaining such knowledge, Transmile to breach:-
* paragraphs 9.22(1) and 9.23 of the LR pertaining to the delay in the submission of Transmile’s annual audited accounts and annual report for the financial year ended Dec 31, 2006, and quarterly report for the financial period ended March 31, 2007; and
* paragraph 9.16(1)(a) of the LR pertaining to the restatement of Transmile’s audited results for the financial year ended Dec 31, 2005, and the deviation in Transmile’s unaudited and audited results for the financial year ended Dec 31, 2006.
Bursa Malaysia said on Tuesday the court had Feb 9 dismissed the application for a judicial review of the enforcement actions taken against Gan Boon Aun, Khiudin Mohd @ Bidin and Shukri Sheikh Abdul Tawab.
To recap, on Sept 6, 2010, Bursa Malaysia publicly reprimanded and imposed a total fine of RM781,500 each on Gan and Khiudin and RM162,600 on Shukri for breaching paragraph 16.11(b) of Bursa Malaysia’s Listing Requirements.
The former directors were found to have permitted, knowingly or where they had reasonable means of obtaining such knowledge, Transmile to breach:-
* paragraphs 9.22(1) and 9.23 of the LR pertaining to the delay in the submission of Transmile’s annual audited accounts and annual report for the financial year ended Dec 31, 2006, and quarterly report for the financial period ended March 31, 2007; and
* paragraph 9.16(1)(a) of the LR pertaining to the restatement of Transmile’s audited results for the financial year ended Dec 31, 2005, and the deviation in Transmile’s unaudited and audited results for the financial year ended Dec 31, 2006.
