Both Bursa Malaysia and the Securities Commission will take appropriate action if there are elements of misrepresentation or other breaches of securities laws, the SC says

Bursa Malaysia Bhd (1818) will take the appropriate steps necessary to request Berjaya Corp Bhd to issue further clarification on its proposed acquisition of a 70 per cent stake in Ascot Sports Sdn Bhd.

In a statement yesterday, the Securities Commission (SC) said it was taking notes on comments raised in the media relating to the matter.

"Bursa Malaysia is looking into this matter, including the disclosures and statements made by Berjaya Corp and other parties. In this regard, Bursa Malaysia will take appropriate steps, including where necessary, requesting Berjaya Corp to issue further clarification," it said.

Both Bursa Malaysia and the SC will take appropriate action if there are elements of misrepresentation or other breaches of securities laws, the regulator said.
Berjaya Corp had announced to Bursa Malaysia last month that Ascot Sports, a company controlled by tycoon Tan Sri Vincent Tan, had been granted a sports betting licence by the government.

However, Prime Minister Datuk Seri Najib Razak said on Tuesday that the government had yet to do so.
- Business Times