The exchange said the company had breached five of the provisions of the ACE LR.
KUALA LUMPUR: Bursa Malaysia has publicly reprimanded Zen Tech International Bhd
and eight of its directors for breaches of Bursa Malaysia Securities ACE Market Listing Requirements (ACE LR).
In addition, the eight directors of the company were imposed total fines ranging from RM25,000 to RM155,000.
In a statement yesterday, the exchange said the company had breached five of the provisions of the ACE LR.
The breaches included failure to ensure that its announcements/press releases were factual, clear, accurate and not misleading (Covid-19 Disclosure Breach), and failure to issue its Annual Report (AR) 2021 on time (AR Delay Breach).
In addition to the public reprimand for the AR 2021 Delay Breach, the company was required to review and ensure the adequacy and effectiveness of its financial reporting function.
Independent non-executive chairman Tan Sri Syed Mohd Yusof Tun Syed Nasir and senior independent non-executive vice-chairman Datuk Megat Fairouz Junaidi Megat Junid were each fined RM105,000.
Its non-independent non-executive vice-chairman Datuk Seri Tan Choon Hwa was fined RM31,250, while executive directors Datuk Zhang Li and K. Siva Kumar were fined RM130,000 and RM155,000, respectively.
Meanwhile, the company’s independent non-executive director Edwin Silvester Das, non-independent non-executive director Zhang Yang and independent non-executive director Chak Ho Sum were fined between RM25,000 and RM131,250. — Bernama
