Kenyataan Media
PUBLIC REPRIMAND AND FINE ON TAP RESOURCES BERHAD
29 Oct 2007
Breach of paragraph 9.23(b) of the Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa Securities LR”)
- Bursa Malaysia Securities Berhad (“Bursa Securities”) hereby publicly reprimands and imposes a fine of RM11,000 on Tap Resources Berhad (“TAP” or “the Company”) for breach of paragraph 9.23(b) of the Bursa Securities LR.
- Paragraph 9.23(b) of the Bursa Securities LR states that a listed issuer must ensure that the annual audited accounts together with the auditors’ and directors’ report shall, in any case, be given to Bursa Securities for public release, within a period not exceeding 4 months from the close of the financial year of the listed issuer unless the annual report is issued within a period of 4 months from the close of the financial year of the listed issuer.
- TAP has breached paragraph 9.23(b) of the Bursa Securities LR for failing to submit the annual audited accounts for the financial year ended 30 April 2007 (“AAA 2007”) by the due date of 31 August 2007. The Company only submitted the AAA 2007 to Bursa Securities for public release on 17 September 2007.
- The public reprimand and a fine of RM11,000 are imposed pursuant to paragraph 16.17 of the Bursa Securities LR after taking into consideration all relevant factors
- Bursa Securities views the above contravention seriously and hereby cautions TAP and its Board of Directors of their responsibility to maintain appropriate standards of corporate responsibility and accountability in order to achieve greater disclosure and transparency to its shareholders and the investing public.
- Whilst Bursa Securities has not made a finding that any of the directors of TAP caused or permitted the breach of paragraph 9.23(b) of the Bursa Securities LR by TAP, Bursa Securities nevertheless wishes to highlight that it is the responsibility of directors of listed companies to maintain appropriate standards of responsibility and accountability within the company and amongst its officers and employees including, amongst others, an awareness of the importance of compliance with Bursa Securities LR.
- The list of directors of TAP at the material time is as follows:-
- Dato’ Dr. Abdul Razak Bin Abdul
- Ong Tee Kein
- Cho See Yoo
- Yap Chi Keong
- Ar. Roslan Bin Mohd Salleh
- Endee Bin Zakari