When contacted, Advancecon group chief executive officer Datuk Phum Ang Kia said it was unable to give a new date for the prospectus launch at this juncture, pending queries from the SC.
KUALA LUMPUR: The Securities Commission Malaysia (SC) has revoked the Capital Markets Services Representative’s Licences (CMSRLs) of Yew Hock Ming, Ling Chen Yew and Tiong Siew Ngaik (Tiong) effective from Jan 18, 2017.
In a statement, SC said their CMSRLs were revoked under section 72 read together with section 65 of the Capital Markets and Services Act 2007 (CMSA) when they were found to have engaged in improper business practices.
Yew, Ling and Tiong were formerly attached with RHB Investment Bank Bhd, Affin Hwang Investment Bank Bhd and Kenanga Investment Bank Bhd
respectively.
“Their CMSRLs were revoked as they were found to have engaged in improper business practices. As such, SC finds these individuals no longer fit and proper to carry out regulated activities in the Malaysian capital market,” SC said in the statement.
The SC has also revoked the CMSRL of Theng Boon Cheng under section 72 read together with section 65 of the CMSA.
Theng was formerly attached with AmInvestment Bank Bhd.
“Theng’s CMSRL was revoked as the SC has reason to believe that he will not carry on the regulated activity of dealing in securities efficiently, honestly or fairly. As such, SC finds Theng no longer fit and proper to carry out regulated activities in the Malaysian capital market,” SC said.
