Bursa Malaysia publicly reprimands Jerasia Capital, 8 directors

KUALA LUMPUR: Bursa Malaysia Securities Bhd has publicly reprimanded Jerasia Capital Bhd and eight of its directors for breaches of the Bursa Malaysia Securities Main Market Listing Requirements.

In addition, the eight directors were also imposed total fines of RM600,000, the exchange said in an announcement today.

"Jerasia was publicly reprimanded for defaults in payment of various credit facilities by the company’s wholly-owned subsidiaries; Jerasia Fashion Sdn Bhd (JFSB), Jerasia Apparel Sdn Bhd and Canteran Apparel Sdn Bhd,” it said.

Bursa Malaysia also added the Jerasia had failed to ensure that the company’s announcements dated Aug 23, 2021 and Nov 26, 2021 on the dates of the defaults in payment to the various lenders were accurate.

"Jerasia also failed to make an immediate announcement of the writ of summons and statement of claim filed by the lenders against the subsidiaries of Jerasia and/or Jerasia (Litigations) and the summary judgments obtained by AmBank (M) Bhd and Alliance Bank Malaysia Bhd (Judgments). It had also failed to make an immediate announcement of the winding-up petition filed by AmBank against JFSB,” it added. - Bernama