Bursa Malaysia publicly reprimands Iqzan Holding

KUALA LUMPUR (Bernama) -- Bursa Malaysia Securities Bhd has publicly reprimanded Iqzan Holding Bhd for breach of Bursa Malaysia Main Market Listing Requirements (Main LR).

In a statement today, Bursa Malaysia said Iqzan failed to ensure that the company’s final quarterly report for the nine months financial period ended (FPE) March 31, 2020 announced on June 26, 2020, took into account the adjustments stated in the company’s announcement dated Aug 28, 2020.

It said Iqzan was also required to carry out a limited review on the company’s quarterly report submission.

"The limited review must be performed by the company’s external auditors for four quarterly reports commencing no later than from the quarterly report for the FPE Sept 30, 2021.

"In addition, Iqzan must review and assess the adequacy and effectiveness of its financial reporting function," it added.

While Bursa Malaysia had not found any of Iqzan's directors to have caused or permitted the breach by the company, it would like to remind that it is the duties of the directors to maintain appropriate standards of responsibility and accountability in ensuring compliance of the Main LR, Bursa Malaysia said.

The finding of breach and imposition of the above penalty on Iqzan was made pursuant to paragraph 16.19 of the Main LR upon completion of due process after taking into consideration all facts and circumstances of the matter.
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Bursa Malaysia , Iqzan Holdings


Next In Business News

Malaysia on track for 3-4% GDP growth this year despite Omicron
Blue Monday? Bitcoin tumbles 5% after weekend battering
China central bank to cut reserve requirement ratio for second time this year
Bursa Malaysia hits 13-month low amid fears of Omicron threat
Kerjaya Prospek Property to purchase land in Seberang Perai for RM27.57mil
PNB’s subsidiary selects six projects for Merdeka 118 community grants programme
VSTECS to distribute Puppet's IT automation solutions in Malaysia
Sirim to develop Malaysia Railways Industrial Standard by May 2022
Oil rebounds by more than US$1 after Saudi price hike
Mah Sing gets clearances to market medical gloves in US market

Others Also Read