| Contents : |
:
|
On 15 July 2008, Bursa Malaysia Securities Berhad ("Bursa Securities") publicly reprimanded Advance Synergy Berhad ("the Company") for breach of paragraph 9.23(b) of the Listing Requirements of Bursa Securities ("Bursa Securities LR").
Paragraph 9.23(b) of the Bursa Securities LR stipulates that a listed issuer must ensure that the annual audited accounts together with the auditors' and directors' reports shall, in any case, be given to Bursa Securities for public release, within a period not exceeding 4 months from the close of the financial year of the listed issuer unless the annual report is issued within a period of 4 months from the close of the financial year of the listed issuer.
The Company had breached paragraph 9.23(b) for failure to submit its annual audited accounts for the financial year ended 31 December 2007 ("AAA 2007") to Bursa Securities for public release on or before 30 April 2008. The Company only furnished the AAA 2007 to Bursa Securities for public release on 13 May 2008, after a delay of 8 market days.
The public reprimand was imposed pursuant to paragraph 16.17 of the Bursa Securities LR after taking into consideration all facts and circumstances of the matter and upon completion of due process.
Bursa Securities views the 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 had caused or permitted the aforesaid breach 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 an 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 at the material time is as follows :-
(i) Dato' Ahmad Sebi Bakar
(ii) Ms Lee Su Nie
(iii) Mr Yong Teck Ming
(iv) Mr Chim Wai Khuan
(v) Dato' Abdul Murad Bin Khalid
(vi) Datin Masri Khaw Binti Abdullah |
|
