Bursa Malaysia Securities Berhad has commenced enforcement proceedings against KENMARK INDUSTRIAL CO. (M) BHD [], its managing director, Hwang Ding Kuo @ James Hwang and executive director, Chang Chin-Chuan for various breaches of disclosure requirements under the Listing Requirements.
It said on Thursday, July 8 that Kenmark and the two directors have been served with a notice to show cause by Bursa Securities to make representations to Bursa Securities in respect of various alleged breaches of the LR.
The breaches included various disclosures made by Kenmark including the announcements on May 31, and June 1 and 4.
“Due process is therefore accorded to Kenmark and the directors prior to making a decision on the alleged breaches and Bursa Securities will impose appropriate sanctions should a finding of breach be made,” it said.
Bursa Securities said it also in the midst of various stages of investigations of other possible contraventions of the LR and upon completion of and subject to the outcome of these investigations, Bursa Securities may initiate other enforcement proceedings against the relevant parties.
Written by Joseph Chin
The Edge Malaysia
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