3 days ago
Bursa Malaysia Reprimands Smile-Link For Delay In Submitting Audited Financial Statements
BUSINESS
KUALA LUMPUR, July 28 (Bernama) -- Bursa Malaysia Securities Bhd has publicly reprimanded dental outfit Smile-Link Healthcare Global Bhd for failing to submit its annual audited financial statements (AFS) for the financial period ended June 30, 2024, within the stipulated timeframe.
In a statement today, Bursa Malaysia said Smile-Link breached Rule 6.13 of the LEAP Market Listing Requirements (LEAP LR), which requires listed companies to announce their AFS together with the auditors' and directors' reports on or before Oct 31, 2024.
'Smile-Link only made the announcement on April 30, 2025, resulting in a six-month delay.
'The company was also required to ensure its board of directors review and assess the adequacy and competency of the company's finance and accounting resources and adequacy, comprehensiveness, implementation and effectiveness of the company's policies and procedures in respect of financial reporting,' it said.
Bursa Malaysia stated that the finding of Smile-Link's breach and the imposition of a public reprimand were in accordance with Rule 8.12 of the LEAP LR, following the completion of due process and consideration of all facts and circumstances, including the breach's materiality and impact.
It said the breach was viewed seriously as the timely submission of financial statements is a fundamental obligation of listed companies and is essential to ensuring an orderly and fair market, as well as supporting informed investment decisions.
'Bursa Malaysia has also reminded Smile-Link and its board of directors of their responsibilities to maintain the appropriate standards of corporate responsibility and accountability to its shareholders and the investing public,' it added.
-- BERNAMA
