Kenyataan Media
PUBLIC REPRIMAND ON HO HUP CONSTRUCTION COMPANY BERHAD
17 Dec 2007
- Bursa Securities hereby publicly reprimands Ho Hup Construction Company Berhad ("HOHUP" or "the Company") for breaches of paragraphs 9.22(1) and 9.23 of the Bursa Securities LR.
- Paragraph 9.22(1) of the Bursa Securities LR states that a listed issuer must give Bursa Securities for public release, an interim financial report that is prepared on a quarterly basis, as soon as the figures have been approved by the board of directors of the listed issuer, and in any event not later than 2 months after the end of each quarter of a financial year.
- Paragraph 9.23 of the Bursa Securities LR states 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.
- HOHUP has breached the following provisions of the Bursa Securities LR:-
- paragraph 9.23(b) of the Bursa Securities LR for failing to submit the annual audited accounts for the financial year ended ("FYE") 31 December 2006 ("AAA 2006") by the due date of 30 April 2007. The Company only submitted the AAA 2006 to Bursa Securities for public release on 31 July 2007;
- paragraph 9.22(1) of the Bursa Securities LR for failing to submit the quarterly report for the financial period ended 31 March 2007 ("1ST QR 2007") by the due date of 31 May 2007. The Company only submitted the 1ST QR 2007 to Bursa Securities for public release on 22 August 2007; and
- paragraph 9.23(a) of the Bursa Securities LR for failing to submit the annual report for the FYE 31 December 2006 ("AR 2006") by the due date of 30 June 2007. The Company only submitted the AR 2006 to Bursa Securities on 6 September 2007.
- The public reprimand is imposed pursuant to paragraph 16.17 of the Bursa Securities LR after taking into consideration all relevant factors, including the fact that HOHUP has previously breached the Bursa Securities LR.
- Bursa Securities views the above contravention seriously and hereby cautions HOHUP 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 its shareholders and the investing public.
- Previous public reprimand
On 31 July 2006, HOHUP was publicly reprimanded and fined RM21,000 for breach of paragraph 9.23(b) of the Bursa Securities LR in respect of the Company's failure to issue the annual audited accounts for the FYE 31 December 2005 ("AAA 2005") by the due date of 30 April 2006. The AAA 2005 was only submitted to Bursa Securities for public release on 31 May 2006.