2 days ago
- Business
- New Straits Times
Bursa Malaysia publicly reprimands Meridian, fines five directors total of RM350,000
KUALA LUMPUR: Bursa Malaysia Securities Bhd has publicly reprimanded Meridian Bhd and imposed fines totalling RM350,000 on five of its directors for the breach of Main Market listing requirements.
It said in a statement today that MERIDIAN was publicly reprimanded for failing to make an immediate announcement that the company had insignificant business or operations upon announcement of the unaudited quarterly report for the financial period ended June 30, 2023 (4Q FY2023) on Aug 29, 2023.
"In this regard, MERIDIAN had an insignificant business or operations based on 4Q FY2023, where the company's revenue of RM2.738 million on a consolidated basis represented 0.93 per cent of the company's share capital of RM294.021 million as at June 30, 2023," Bursa Malaysia added.
The fines were imposed against its executive director and chief executive officer, Datuk Yap Ting Hau, who then resigned on Dec 29, 2023 (RM100,000), Tang Boon Koon (RM100,000), Chew Shin Yong (RM50,000), Ng Kok Hok (RM50,000) and Kunamony S Kandiah (RM50,000).
