KLSE raps and fines Tanco

THE KLSE has reprimanded and fined Tanco Holdings Bhd RM8,000 for breaching the listing requirements. 

According to a KLSE statement, the company has breached paragraph 9.22(1) of the listing requirements, which stipulates a listed issuer must give the exchange for public release, its consolidated quarterly report as soon as the figures are approved by the board or in any event not later than two months after the end of the quarter. 

Tanco's quarterly report for the financial yesr ended Dec 31, 2002, was due by Feb 28 but it was furnished to the KLSE only on March 13, it said. 

The public reprimand and fine were imposed pursuant to paragraph 16.17 of the listing requirements after having considered all relevant factors and after consultation with the Securities Commission. 

The KLSE said it viewed the contravention of the listing regulations seriously and warned the company and its board of their responsibility to maintain appropriate standards of corporate responsibility and accountability in order to achieve greater dislosure and transparency to its shareholders and the investing public. – Bernama  

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