Bursa Malaysia Publicly Reprimands MCOM For Failing To Submit Audited Financials
KUALA LUMPUR, Aug 8 (Bernama) -- Bursa Malaysia Securities Bhd (Bursa Malaysia) has publicly reprimanded MCOM Holdings Bhd for failing to announce its annual audited financial statements (AFS) for the 18-month financial period ended June 30, 2024, by the Oct 31, 2024 deadline.
Bursa Malaysia said MCOM was found in breach of LEAP Market listing requirements (LEAP LR) for not issuing the audited financial statements together with the auditors' and directors' reports within the stipulated timeframe. 'As of now, MCOM has yet to announce the AFS 2024,' it said in a stock exchange filing.
'Bursa Malaysia views the breach seriously as timely submission of financial statements is a fundamental obligation of listed companies and of paramount importance in ensuring an orderly and fair market for securities traded on Bursa Malaysia Securities and is necessary to aid informed investment decisions,' it said.
The stock exchange regulator noted that MCOM attributed the delay to insufficient and inexperienced accounting staff, high turnover, and the resignation of its external auditors on Oct 29, 2024, over unsettled audit fees.
"These reasons do not justify the delay, as all listed companies are required to have the necessary funds and resources, including sufficient and available finance and accounting staff, to prepare their financial statements and ensure compliance with the listing requirements.
'MCOM also failed to demonstrate reasonable efforts, including paying the outstanding audit fees to the external auditors, to enable the commencement of the audit and the issuance of the AFS 2024 by the due date,' it said.
Bursa Malaysia said that de-listing procedures have been initiated against MCOM, but it has 'decided to defer the de-listing on the condition that the company announces the AFS 2024 on or before Aug 31, 2025, as represented by MCOM.'
The extension also took into account that MCOM had appointed a new auditor on May 21, 2025, it added.
-- BERNAMA
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Express
an hour ago
- Daily Express
Aseanta launches tourism awards
Published on: Sunday, August 10, 2025 Published on: Sun, Aug 10, 2025 By: Bernama, Antara News Text Size: JAKARTA: The Asean Tourism Association (Aseanta) has launched two initiatives to expand tourism opportunities in Southeast Asian countries, reported Antara news agency. 'The first is the 39th Aseanta Tourism Awards, and the second is the Discover Asean microsite by AirAsia Move,' said Aseanta President Eddy Krismeidi at the launch event held at the Asean Secretariat in Jakarta. Advertisement Eddy said the two initiatives not only reflect Aseanta's response to current tourism challenges but also its readiness to seize future opportunities. 'These initiatives reflect our determination to recover, innovate, and thrive,' he said. The Aseanta Tourism Awards, he explained, have been held for 39 editions and have long served as a platform to recognise and honour the best in Asean tourism – from community-based initiatives to large-scale innovations in marketing, sustainability, and excellence in tourism services. Registration for the Aseanta Tourism Awards is now open and will close on Oct 31,2025, with the winners to be officially announced at the Asean Tourism Forum 2026 in the Philippines. The second initiative presented at the event was the launch of the Discover Asean microsite, a digital travel booking platform from AirAsia Move, introduced by Aseanta in collaboration with AirAsia. Advertisement 'This microsite curates essential and inspiring content, from cuisine, culture, and attractive destinations to verified immigration links and the latest travel information,' he said. The application, he added, integrates tourism services that travelers need and want while also enabling easy access to flights and hotel rooms. 'In this way, intra-Asean travel becomes more intuitive, informative, and inspiring,' Eddy said. Meanwhile, Indonesia's Deputy Minister of Tourism Ni Luh Puspa expressed the government's appreciation for Aseanta's efforts in realising the two initiatives. According to her, both initiatives are a tangible manifestation of a collective commitment that strengthens digital innovation, public–private collaboration, and shared sustainability values to reshape the regional tourism landscape. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Malay Mail
an hour ago
- Malay Mail
TVET not just for school leavers, mid-career workers can benefit in ageing Malaysia, says foundation chief
KUALA LUMPUR, Aug 10 — The stigma towards Technical and Vocational Education and Training (TVET) no longer comes from students but from parents and other decision-makers, who must change their mindset and see TVET as equal to higher education, said Malaysian Skills Foundation president Datuk P. Sri Ganes. In an exclusive interview with Bernama, he emphasised that TVET offers valuable pathways not just for school leavers but also for mid-career professionals seeking to reskill and retirees, particularly relevant as Malaysia moves towards becoming an ageing society. 'TVET stands shoulder-to-shoulder with higher education. The decision-makers need to switch their mindset and accept that it is not a negative option, but a formalised pathway that has existed for a long time,' he said. While acknowledging the Indian community's strong participation in TVET programmes, Sri Ganes highlighted the importance of focusing on high-value courses aligned with emerging industries such as electric vehicle (EV) technology, drone operations, solar power systems, artificial intelligence and data analytics to ensure better employability. 'High-value means aligning with industries undergoing transition. For example, EV technology, drone operations, and solar energy systems all offer growth potential. We must guide students to choose such fields rather than just enrolling in any free training programme,' he said. He added that the 13th Malaysia Plan's (13MP) Perkasa Madani TVET agenda emphasises not only enrolment but strategic alignment with future-ready industries, where graduates can secure better-paying jobs, start their own businesses, or work remotely without migrating to urban areas. Malaysian Skills Foundation president Datuk P. Sri Ganes speaks about TVET at SG Academy on August 9, 2025. — Bernama pic To enhance engagement with Indian youth, particularly from B40 communities, the foundation has launched targeted initiatives under the Perkasa Madani TVET Financing Scheme in 13MP, including the 'TVET in School' programme that introduces vocational feeder skills to Tamil school students in multi-racial secondary schools through public-private partnerships. Apart from aligning training with the National Occupational Skills Standard, the foundation also organises in-school competitions, conducts 'mobile TVET' visits to workshops and industries, and trains counselling teachers to better guide students towards clear career pathways. 'So when we identify these students, we create an initiative called TVET in School…so that the students are exposed to feeder skills,' he said, adding that early exposure can reduce misconceptions that TVET is limited to low-value trades. He stressed the crucial need for pre-enrolment readiness assessments to ensure course-career alignment and prevent unemployment among TVET graduates, while highlighting that the sector's 4.4 per cent unemployment rate, which includes self-employed entrepreneurs, remains encouraging. 'If you're focusing towards Indian youth, I would say go towards entrepreneurship. For example, if you acquire skills in drone operation, by having a drone, you can also offer drone services and earn on your own in agriculture or infrastructure inspection,' he said. He underscored how high-value TVET skills could empower B40 youth to access specialised sector jobs within their hometowns, stressing that practical industry exposure holds far greater value than simply completing online courses. 'Knowing how to use ChatGPT is not going to give you money. Knowing how ChatGPT can assist you in your work is going to give you money,' he advised. On funding, Sri Ganes urged the government to provide targeted support for over one million Malaysian Skills Certificate (SKM) Level 2 and 3 graduates to progress to Level 4 or 5, enabling them to move into supervisory or managerial roles and achieve high-income status. He also said that the foundation recently signed a memorandum of understanding (MoU) with the Malayan Sikhs Education Aid Fund (MSEAF) to provide high-value training and job opportunities to Sikh youths, including the Certified Artificial Intelligence Engineer programme from the United States. 'One project we have successfully completed involved 10 students from MSEAF who attended this programme part-time, received certification, and were also offered employment,' said Sri Ganes, who has worked with Indian entrepreneurs and skilled youths for 25 years. Looking ahead, the foundation is exploring collaborations with Indian business chambers, NGOs, and temple-based youth groups to further promote the Perkasa Madani TVET Financing Scheme and raise awareness of high-value courses within Indian-majority communities nationwide. — Bernama
Free Malaysia Today
2 hours ago
- Free Malaysia Today
Singapore says no plans to liberalise cross-border ride-hail services
The LTA noted an existing reciprocal Cross Border Taxi Scheme that allows a licensed fleet of up to 200 taxis from each side to ferry passengers between Singapore and Johor Bahru. (Bernama pic) SINGAPORE : Singapore's Land Transport Authority (LTA) says it has no plans to fully liberalise Singapore-Malaysia cross-border point-to-point transport via ride-hail services. The agency said officials from Singapore and Malaysia met on Aug 1 to discuss cross-border service arrangements, but no decision was made on allowing cross-border e-hailing to ferry passengers. 'We note recent Malaysian media reports suggesting that Singapore is looking to introduce cross-border on-demand ride services. 'While we are open to ideas to improve the cross-border commuting experience, we would like to clarify that LTA has no plans to fully liberalise cross-border point-to-point transport via ride-hail services,' LTA said in a Facebook post. It also noted an existing reciprocal Cross Border Taxi Scheme (CBTS) that allows a licensed fleet of up to 200 taxis from each side to ferry passengers between Singapore and Johor Bahru. These cross-border taxis are permitted to pick up and drop off passengers only at designated points – Larkin Sentral in Johor Bahru for Singapore taxis, and Ban San Street Terminal in Singapore for Malaysian taxis. 'We are also considering increasing the number of boarding and alighting points in each other's country, and using ride-hailing apps to book cross-border trips on licensed taxis,' LTA said, adding that the existing quota of the CBTS is not fully utilised. LTA said as CBTS is a reciprocal arrangement, any change would require agreement from both governments. It said during the meeting, Malaysian authorities requested that Singapore's cross-border buses begin operations from Johor Bahru at 4am, adding that it was assessing the request. It said a key consideration was for the first buses to match the starting time of local bus and MRT services when commuters arrive in Singapore. LTA is also talking to cross-border bus operators about the possibility of bringing forward bus start times slightly, as well as gauging the interest of private bus operators in operating earlier services at higher fares.
