5 company directors fined RM400,000 each over late announcement
Five directors of a fire protection equipment company have been fined RM400,000 each for breaching Bursa Malaysia Securities Bhd’s main market listing requirements for failing to make an immediate announcement of an acquisition.
The directors, who were named as Sok One Esen, Hoo Swee Guan, Gan Chow Tee, Wong Kok Seong and Kho See Yiing, had also allowed a misleading and false statement to be made that the acquisitions were not subject to shareholder approval.
The company, Fitters Diversified Bhd, was also publicly reprimanded by the stock exchange for failing to make an immediate announcement in March 2023 regarding the acquisitions by its wholly owned subsidiary, Fitters Development Property Sdn Bhd.
The acquisitions involved the purchase of 12.14 million ordinary shares, or…
