KUALA LUMPUR: Bursa Malaysia has publicly reprimanded and fined KAF Investment Bank Bhd (KAF IB) RM300,000 for breaching the Bursa Malaysia Securities ACE Market listing requirements (ACE LR).
In a statement yesterday, the local bourse said KAF IB, in its capacity as sponsor for an applicant seeking admission to the ACE Market, had failed to comply with several provisions under the ACE LR.
“KAF IB had breached Rule 3.02(4) and Rules 4.07(1) & (2) of ACE LR for failing to make all reasonable due diligence enquiries and consider all relevant matters vis-à-vis the non-compliances of the certificate of completion and compliance of two core manufacturing facilities owned by the applicant in assessing suitability of the applicant’s admission to the ACE Market,” it said.
