THE Securities Commission (SC) has publicly reprimanded and imposed sanctions of non-acceptance of submission to the SC on valuer Andrew Chan Kian Sang and valuation firm Dass Mohamad Chartwell Brooke Hiller Parker Sdn Bhd (DMC) for one year and three months respectively for non-compliance with its guidelines on asset valuation.
Chan is a registered valuer and a director of DMC, and also the signatory for a valuation report submitted to the SC through AmMerchant Bank Bhd in conjunction with the restructuring exercise of Plantation and Development (Malaysia) Bhd in 2002.