Xin Hwa reprimanded, two directors fined RM150,000

KUALA LUMPUR (Bernama) -- Bursa Malaysia Securities Bhd has publicly reprimanded Xin Hwa Holdings Bhd and two of its former directors for breaching Main Market listing requirements and imposed fines totalling RM150,000.

In a statement, Bursa Malaysia said Xin Hwa was publicly reprimanded for a breach in paragraph 8.23(1) of the listing requirements, with regard to the advances and payments made on behalf of its wholly-owned subsidiary Xin Hwa Trading & Transport Sdn Bhd (XHTT) between Jan 1, 2017 and Dec 31, 2018.