-- Bernama
KUALA LUMPUR: Bursa Malaysia Securities Bhd has publicly reprimanded Waja Konsortium Bhd
and two of its directors for breach of the Bursa Malaysia Securities ACE Market Listing Requirements (ACE LR).
In addition, the two directors were imposed a fine of RM100,000 each.
In a statement, Bursa Malaysia said Waja was publicly reprimanded for breach of Rule 8.04(3)(b) of the ACE LR read together with paragraph 4.1(a) of Guidance Note 3 (GN3) where the company had failed to make the first announcement on an immediate basis upon announcement of its quarterly report for the financial period ended June 30, 2023 on Aug 24, 2023, which had triggered paragraphs 2.1(b) and 2.1(c) of GN3.
Bursa Malaysia noted that the first announcement was only made on Oct 10, 2025, 1.5 months after the announcement of the quarterly report 30/6/2023 and upon engagement by Bursa Malaysia Securities.
“Bursa Malaysia Securities views the breach seriously as the first announcement was crucial to shareholders and investors as it was in relation to Waja’s financial condition and the consequences of being classified as a financially distressed company pursuant to GN3 include possible suspension and de-listing if the company fails to regularise its financial condition within the timeframe prescribed under Rule 8.04 of the ACE LR and GN3.
“Hence, timely disclosure of such information pertaining to classification/triggering of GN3 is important towards facilitating informed investment decision,” it said.
