Latest news with #BursaMalaysiaSecuritiesBhd
The Star
14-07-2025
- Business
- The Star
Bursa Malaysia reprimands Zetrix AI, fines seven directors RM150,000 each
KUALA LUMPUR: Bursa Malaysia Securities Bhd has publicly reprimanded Zetrix AI Bhd, formerly known as MyEG Services Bhd , and fined seven directors for breaching the Bursa Malaysia Securities Main Market listing requirements (LR). The stock exchange operator imposed a fine of RM150,000 on each director, including the company's group managing director, Wong Thean Soon; executive chairman Datuk Dr Norraesah Mohamad; and non-independent non-executive director, Datuk Mohd Jimmy Wong Abdullah. Also reprimanded and fined were independent non-executive directors Wong Kok Chau, Datuk Seri Mohd Mokhtar Mohd Shariff, Datuk Mohd Jeffrey Joakim and Mohaini Mohd Yusof. According to Bursa Malaysia Securities, the findings of breach and the imposition of penalties on the company and the directors were made pursuant to paragraph 16.19 of the Main Market LR upon completion of due process and after taking into consideration all facts and circumstances of the matter. These included the materiality of the breaches, the impact of the breaches on the company and shareholders/investors, and the roles, responsibilities, knowledge, involvement and conduct/action/inaction of the directors. "Bursa Malaysia Securities has also reminded the company and its board of directors of their responsibility to maintain the appropriate standards of corporate responsibility and accountability to its shareholders and the investing public," it said in a statement. On July 7, 2023, Zetrix AI announced that the company received a notification letter dated July 4, 2023 from the Ministry of Home Affairs (MOHA) to confirm that the Ministry of Finance (MOF) had approved for the company to be appointed as the collection agent for the government revenue and to extend its role as the provider of online services for the Immigration Department of Malaysia. "However, the July 7 announcement was not factual, inaccurate, false and misleading as the contents of the July 4 letter were inconsistent with the company's representations in the July 7 announcement," said Bursa Malaysia Securities. - Bernama
Barnama
14-07-2025
- Business
- Barnama
Bursa Malaysia Reprimands Zetrix AI, Fines Seven Directors RM150,000 Each
BUSINESS KUALA LUMPUR, July 14 (Bernama) -- Bursa Malaysia Securities Bhd has publicly reprimanded Zetrix AI Bhd, formerly known as MYEG Services Bhd, and fined seven directors for breaching the Bursa Malaysia Securities Main Market listing requirements (LR). The stock exchange operator imposed a fine of RM150,000 on each director, including the company's group managing director, Wong Thean Soon; executive chairman Datuk Dr Norraesah Mohamad; and non-independent non-executive director, Datuk Mohd Jimmy Wong Abdullah. Also reprimanded and fined were independent non-executive directors Wong Kok Chau, Datuk Seri Mohd Mokhtar Mohd Shariff, Datuk Mohd Jeffrey Joakim and Mohaini Mohd Yusof. According to Bursa Malaysia Securities, the findings of breach and the imposition of penalties on the company and the directors were made pursuant to paragraph 16.19 of the Main Market LR upon completion of due process and after taking into consideration all facts and circumstances of the matter. These included the materiality of the breaches, the impact of the breaches on the company and shareholders/investors, and the roles, responsibilities, knowledge, involvement and conduct/action/inaction of the directors. "Bursa Malaysia Securities has also reminded the company and its board of directors of their responsibility to maintain the appropriate standards of corporate responsibility and accountability to its shareholders and the investing public," it said in a statement. On July 7, 2023, Zetrix AI announced that the company received a notification letter dated July 4, 2023 from the Ministry of Home Affairs (MOHA) to confirm that the Ministry of Finance (MOF) had approved for the company to be appointed as the collection agent for the government revenue and to extend its role as the provider of online services for the Immigration Department of Malaysia. "However, the July 7 announcement was not factual, inaccurate, false and misleading as the contents of the July 4 letter were inconsistent with the company's representations in the July 7 announcement," said Bursa Malaysia Securities. -- BERNAMA
The Star
30-06-2025
- Business
- The Star
Bursa Malaysia approves Sapura Energy's PN17 proposed exit plan after four extensions
KUALA LUMPUR: Bursa Malaysia Securities Bhd has approved Sapura Energy Bhd's proposed regularisation plan to exit its Practice Note 17 (PN17) status, following four deadline extensions. "The proposed regularisation plan comprises a proposed capital reconstruction, proposed debt restructuring, proposed fund-raising and proposed exemption,' Sapura Energy said in a filing with Bursa Malaysia today. ALSO READ: Sapura Energy reports RM478mil 1Q26 loss The oil and gas services outfit fell into PN17 status on May 31, 2022 due to its consolidated shareholders' equity of RM85 million being less than 50 per cent of its share capital of RM10.87 billion as of Jan 31, 2022 (FY2022), and a material uncertainty related to going concern highlighted by the company's auditors in its audited financial statements for FY2022. The company sought its first deadline extension on May 31, 2023, with the latest extension request made on Dec 17, 2024, for a six-month extension until May 31, 2025. For approval, Sapura Energy and its main adviser for the proposed regularisation plan, MIDF Amanah Investment Bank Bhd, must fully comply with the relevant provisions of the Main Market Listing Requirements regarding the implementation of the proposed plan. - Bernama
New Straits Times
30-06-2025
- Business
- New Straits Times
Bursa Malaysia approves Sapura Energy's PN17 proposed exit plan after four extensions
KUALA LUMPUR: Bursa Malaysia Securities Bhd has approved Sapura Energy Bhd's proposed regularisation plan to exit its Practice Note 17 (PN17) status, following four deadline extensions. "The proposed regularisation plan comprises a proposed capital reconstruction, proposed debt restructuring, proposed fund-raising and proposed exemption," Sapura Energy said in a filing with Bursa Malaysia today. The oil and gas services outfit fell into PN17 status on May 31, 2022 due to its consolidated shareholders' equity of RM85 million being less than 50 per cent of its share capital of RM10.87 billion as of Jan 31, 2022 (FY2022), and a material uncertainty related to going concern highlighted by the company's auditors in its audited financial statements for FY2022. The company sought its first deadline extension on May 31, 2023, with the latest extension request made on Dec 17, 2024, for a six-month extension until May 31, 2025. For approval, Sapura Energy and its main adviser for the proposed regularisation plan, MIDF Amanah Investment Bank Bhd, must fully comply with the relevant provisions of the Main Market Listing Requirements regarding the implementation of the proposed plan.
New Straits Times
06-06-2025
- 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).
