Kenyataan Media
PUBLIC REPRIMAND ON CNLT (FAR EAST) BERHAD ("CNLT" or "the Company")
29 Oct 2007
Breach of Paragraph 9.23 of the Listing Requirements of Bursa Malaysia Securities Berhad.
- Bursa Malaysia Securities Berhad ("Bursa Securities") hereby publicly reprimands CNLT for breach of Paragraph 9.23 of Bursa Securities’ Listing Requirement ("LR").
- Paragraph 9.23 of the LR stipulates that a listed issuer must ensure that the issuance of the annual audited accounts and annual report by a listed issuer shall be as follows: -
- the annual report shall be issued to the listed issuer’s shareholders and given to Bursa Securities within a period not exceeding 6 months from the close of the financial year of the listed issuer; and
- the annual audited accounts together with the auditors’ and directors’ reports 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.
- The Company was found to be in breach of: -
- Paragraph 9.23(b) of the LR for failure to submit its annual audited accounts for the financial year ended 31 December 2006 ("AAA2006") on or before 30 April 2007. The AAA2006 was submitted on 13 July 2007, after a delay of 51 market days; and
- Paragraph 9.23(a) of the LR for failure to submit its annual report for the financial year ended 31 December 2006 ("AR2006") on or before 30 June 2007.The AR2006 was submitted on 7 August 2007, after a delay of 26 market days.
- The above penalties on CNLT are imposed pursuant to Paragraph 16.17 of the LR after taking into consideration all facts and circumstances of the matter.
- Bursa Securities views the above contraventions seriously and cautions the Company and its Board of Directors on their responsibility to maintain appropriate standards of corporate responsibility and accountability in order to achieve greater disclosure and transparency to the shareholders and the investing public.
- The list of directors of CNLT at the material time is as follows: -
- Man Mohan Thapar
- Dato’ Prem Krishna Sahgal
- Dato’ Izham bin Mahmud
- Datin Ishah binti Ismail
- Tiny Kesang Lingstang
- Mahesh Sahai