Bursa reprimands, fines eight Lay Hong directors

Recall that QL Resources has since sold its 38.8% stake in Lay Hong to several parties. It is likely that the sale of shares to the Indonesian party will come from this block of shares.

PETALING JAYA: Eight directors of poultry company Lay Hong Bhd have been publicly reprimanded and fined a total of RM750,000 by Bursa Malaysia for not disclosing an impending corporate exercise when queried by the exchange on its unusual market activity (UMA).

“Bursa Malaysia views the contraventions seriously in view of the importance of timely and accurate disclosure of material information to ensure the investors and public are kept fully informed and have equal access to all facts and circumstances that are material to facilitate informed investment decisions,” the exchange said in a statement.