BGYEAR - BURSA MALAYSIA SECURITIES PUBLICLY REPRIMANDS BINA GOODYEAR BERHAD FOR BREACH OF MAIN MARKET LISTING REQUIREMENTS
| Company Name | BINA GOODYEAR BERHAD |
| Stock Name | BGYEAR |
| Date Announced | 18 Jul 2014 |
| Category | Listing Circular |
| Reference No | CW-140718-59855 |
LISTING'S CIRCULAR NO. L/Q : 71109 OF 2014
Bursa Malaysia Securities Berhad (635998-W) (Bursa Malaysia Securities) has publicly reprimanded Bina Goodyear Berhad (BGYEAR or the Company) for breaching paragraph 9.16(1)(a) of the Bursa Malaysia Securities Main Market Listing Requirements (Main LR) in respect of the Company’s announcement dated 29 October 2012 on its annual audited accounts for the financial year ended 30 June 2012 (AAA 2012) which was not factual and accurate particularly with regards to the carrying value of the amounts due from customers on contracts and trade and other receivables.
Pursuant to paragraph 9.16(1)(a) of the Main LR, a listed issuer must ensure that each announcement made is factual, clear, unambiguous, accurate, succinct and contains sufficient information to enable investors to make informed investment decisions.
The public reprimand was imposed pursuant to paragraph 16.19(1) of the Main LR after taking into consideration all facts and circumstances of the matter and upon completion of due process.
BGYEAR is also required to review and ensure the adequacy and effectiveness of its financial reporting function and carry out a limited review on its quarterly report submissions. The limited review must be performed by the Company’s external auditors for four quarters commencing no later from the quarterly report for the financial period ended 30 September 2014. In addition, BGYEAR must ensure all its directors and relevant personnel attend a training programme in relation to compliance with the Main LR particularly pertaining to financial statements.
While Bursa Malaysia Securities has not found any of BGYEAR’s directors to have caused or permitted the breach by the Company, Bursa Malaysia Securities wishes to highlight that it is the duty of the directors to maintain appropriate standards of responsibility and accountability in ensuring compliance of the Main LR. The Board of Directors of BGYEAR at the material time of the announcement of the AAA 2012 was as follows:-
(i) Md Azar bin Ismail
(ii) Moo Hean Chong (appointed as Executive Director on 20 December 2011 and re-designated as Managing Director on 30 March 2012)
(iii) Eng Kim Leng (appointed as Executive Director on 29 December 2011)
(iv) Foo San Kan (appointed as Independent Non-Executive Director on 30 March 2012 and re-designated as Non-Independent Non-Executive Director on 26 September 2012)
(v) Tay Choon Yong (appointed as Independent Non-Executive Director on 23 July 2012)
Bursa Malaysia Securities views the contravention seriously and has reminded BGYEAR and its Board of Directors of their obligation to uphold appropriate standards of responsibility and accountability to shareholders and the investing public.
BACKGROUND
BGYEAR had on 19 November 2012 made an announcement that the Senior General Manager, Finance in charge of the accounts of the Group had brought to the attention of the board that approximately RM29.6 million of the work-in-progress (WIP) was not billable and chargeable to the customers and the Group would need to make a provision for this amount. Prior to this, there was no evidence including from the findings of the Investigative Audit Report announced by BGYEAR on 22 February 2013 that the Board of Directors was aware of such significant unrecoverable WIP.
As a result of the provision which affected the Company’s shareholders’ equity, the Company triggered the prescribed criteria under paragraph 2.1(a) of Practice Note 17 and made the First Announcement on 19 November 2012. The Company’s share price had decreased by RM0.225 / 56.3% from RM0.400 on 19 November 2012 to RM0.175 on 20 November 2012 i.e. the next market day of the First Announcement.
Subsequently, BGYEAR had on 30 November 2012 announced its quarterly report for the financial period ended 30 September 2012 (QR Sept 2012) in which the Company had made the following provisions which were related to prior year:-
- Provision for amount due from customers on contracts / WIP amounting to RM43.02 million; and
- Provision for doubtful debts amounting to RM8.60 million.
The impact arising from the provisions was as follows:-
Item | Based on AAA 2012 RM’000 | Based on the QR Sept 2012 RM’000 | Provision | |
RM’000 | % | |||
| Amount Due from Customers on Contracts (WIP) | 47,633 | 4,615 | 43,018 | 90.3% |
| Trade and other receivables | 61,130 | 52,526 | 8,604 | 13.2% |
| Shareholders’ equity | 27,620 | (24,002) |  | |
| % Shareholders’ equity against paid-up and share capital | 54% | negative | | |
ATLAN - OTHERS ATLAN HOLDINGS BHD ("AHB" OR THE "COMPANY") - DECLARATION OF FIRST INTERIM SINGLE TIER DIVIDEND FOR THE FINANCIAL YEAR ENDING 28 FEBRUARY 2015
| Company Name | ATLAN HOLDINGS BERHAD |
| Stock Name | ATLAN |
| Date Announced | 18 Jul 2014 |
| Category | General Announcement |
| Reference No | CS-140716-39525 |
| Type | Announcement |
| Subject | OTHERS |
| Description | ATLAN HOLDINGS BHD ("AHB" OR THE "COMPANY") - DECLARATION OF FIRST INTERIM SINGLE TIER DIVIDEND FOR THE FINANCIAL YEAR ENDING 28 FEBRUARY 2015 |
The Board of Directors of AHB is pleased to declare a First Interim Single Tier Dividend of 15 sen per ordinary share of RM1.00 each for the financial year ending 28 February 2015, which shall be paid on 15 August 2014 to depositors registered in the Record of Depositors at the close of business on 6 August 2014. This announcement is dated 18 July 2014.
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SCOMI - Changes in Sub. S-hldr's Int. (29B) - Tan Sri Abu Sahid Mohamed
| Company Name | SCOMI GROUP BERHAD |
| Stock Name | SCOMI |
| Date Announced | 18 Jul 2014 |
| Category | Changes in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965 |
| Reference No | SG-140711-9BFEE |
Particulars of substantial Securities Holder
| Name | Tan Sri Abu Sahid Mohamed |
| Address | No 1 South Lake Residence Bandar Tasik Selatan 57100 Kuala Lumpur |
| NRIC/Passport No/Company No. | 510820-01-5073 |
| Nationality/Country of incorporation | Malaysian |
| Descriptions (Class & nominal value) | Ordinary share of RM0.10 each |
| Name & address of registered holder | 1. Tan Sri Abu Sahid Mohamed 2. HLB Nominees (T) Sdn Bhd pledged Securities A/C for Tan Sri Abu Sahid 3. HLIB Nominees (T) Sdn Bhd pledged Securities A/C for Tan Sri Abu Sahid 4. JF Apex Nominees (T) Sdn Bhd pledged Securities A/C for Tan Sri Abu Sahid 5. Citigroup Nominees (Tempatan) Sdn Bhd pledged Securities Account for Abu Sahid bin Mohamed (000187773) |
Details of changes
Currency: Malaysian Ringgit (MYR)
| Type of transaction | Date of change | No of securities | Price Transacted (RM) |
| Disposed | 11/07/2014 | 8,800 | |
| Disposed | 16/07/2014 | 1,500,000 |
DOMINAN - Final Dividend
| Company Name | DOMINANT ENTERPRISE BERHAD |
| Stock Name | DOMINAN |
| Date Announced | 18 Jul 2014 |
| Category | Entitlements (Notice of Book Closure) |
| Reference No | CJ-140718-55253 |
| Remarks : |
| This Announcement is dated 18 July 2014 |
SUCCESS - Change in Boardroom
| Company Name | SUCCESS TRANSFORMER CORPORATION BERHAD |
| Stock Name | SUCCESS |
| Date Announced | 18 Jul 2014 |
| Category | Change in Boardroom |
| Reference No | CM-140707-66510 |
| Date of change | 18/07/2014 |
| Name | CHIAM TAU MENG |
| Age | 61 |
| Nationality | Malaysian |
| Type of change | Redesignation |
| Previous Position | Non-Executive Director |
| New Position | Chairman |
| Directorate | Independent & Non Executive |
| Qualifications | Mr Chiam Tau Meng graduated with a Bachelor of Commerce Degree majoring in Accountancy from University of Otago, Dunedin, New Zealand in 1976. He is an Associate Chartered Accountant of the Institute of Chartered Accountants of New Zealand and Malaysian Institute of Accountant. |
| Working experience and occupation | Mr Chiam Tau Meng started his career in 1976 as Finance Manager of Tolley Industries Ltd (New Zealand) and in 1979, he joined Malaysian Containers (1974) Berhad as Finance Manager cum Company Secretary. In 1984, he joined Menang Corporation (M) Berhad as General Manager of Corporate Services and in 1989 he joined Bee Hin Holdings Sdn. Bhd. as General Manager of Corporate Finance in charge of the reconstruction scheme under Section 176 of the Companies Act 1965 on Kuala Lumpur Industries Berhad. In 1992, he was in the management consultancy practice of an international accounting organisation and in 1994, he set up his own consulting practice namely CTM Consulting. |
| Directorship of public companies (if any) | Mr Chiam Tau Meng is an Independent Non-Executive Director of Menang Corporation (M) Berhad, Seremban Engineering Berhad and Hovid Berhad. |
| Family relationship with any director and/or major shareholder of the listed issuer | None |
| Any conflict of interests that he/she has with the listed issuer | None |
| Details of any interest in the securities of the listed issuer or its subsidiaries | Nil |
| Remarks : |
| Gender: Male |
SUCCESS - Change in Boardroom
| Company Name | SUCCESS TRANSFORMER CORPORATION BERHAD |
| Stock Name | SUCCESS |
| Date Announced | 18 Jul 2014 |
| Category | Change in Boardroom |
| Reference No | CM-140707-66305 |
| Date of change | 18/07/2014 |
| Name | YOONG KAH YIN |
| Age | 55 |
| Nationality | Malaysia |
| Type of change | Appointment |
| Designation | Non-Executive Director |
| Directorate | Independent & Non Executive |
| Qualifications | Mr Yoong has a BA (Hons) Accounting and Finance. He also has a MBA from City University, London |
| Working experience and occupation | He has 28 years experience in corporate banking, stockbroking and investment banking. He was a Co-Head of Institutional Sales with SBB Securities from 1997 to 1999. He was also a Co-Head of a team in CIMB Investment Bank from 2000 to 2013. His team won the Top Performing Team Award in CIMB Investment Bank for seven consecutive years from 2006 to 2012. He came in Seventh Position in Euromoney/Asiamoney Poll 2001 for Best Salesperson in Malaysia. |
| Directorship of public companies (if any) | None |
| Family relationship with any director and/or major shareholder of the listed issuer | None |
| Any conflict of interests that he/she has with the listed issuer | Nil |
| Details of any interest in the securities of the listed issuer or its subsidiaries | None |
| Remarks : |
| Gender: Male |
SUCCESS - OTHERS SUCCESS TRANSFORMER CORPORATION BERHAD ("THE COMPANY") CHANGES IN THE COMPOSITION OF THE NOMINATION AND REMUNERATION COMMITTEES OF THE COMPANY
| Company Name | SUCCESS TRANSFORMER CORPORATION BERHAD |
| Stock Name | SUCCESS |
| Date Announced | 18 Jul 2014 |
| Category | General Announcement |
| Reference No | CM-140707-67654 |
| Type | Announcement | ||||||||||||||||||||
| Subject | OTHERS | ||||||||||||||||||||
| Description | SUCCESS TRANSFORMER CORPORATION BERHAD ("THE COMPANY") CHANGES IN THE COMPOSITION OF THE NOMINATION AND REMUNERATION COMMITTEES OF THE COMPANY | ||||||||||||||||||||
We, the Board of Directors of the Company, wish to inform that the composition of the Nomination and Remuneration Committees of the Company have been changed with immediate effect as follows: Nomination Committee
Remuneration Committee
This announcement is dated 18 July 2014. | |||||||||||||||||||||
BHS - GENERAL MEETINGS: OUTCOME OF MEETING
| Company Name | BHS INDUSTRIES BERHAD |
| Stock Name | BHS |
| Date Announced | 18 Jul 2014 |
| Category | General Meetings |
| Reference No | CA-140717-61290 |
| Type of Meeting | EGM |
| Indicator | Outcome of Meeting |
| Date of Meeting | 18/07/2014 |
| Time | 02:30 PM |
| Venue | Tioman Room, Bukit Jalil Golf and Country Club, Jalan 3/155B, Bukit Jalil, 57000 Kuala Lumpur |
| Outcome of Meeting | The Board of Directors of BHS Industries Berhad ("Company") wishes to announce that the shareholders of the Company have at the Extraordinary General Meeting ("EGM") held this afternoon passed all the resolutions set out in the Notice of EGM dated 3 July 2014 by way of poll.
The result of the poll in relation to the Ordinary Resolution 1 are as follows:-
The result of the poll in relation to the Ordinary Resolution 2 are as follows:-
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WZSATU - DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS):DEALINGS OUTSIDE CLOSED PERIOD
| Company Name | WZ SATU BERHAD |
| Stock Name | WZSATU |
| Date Announced | 18 Jul 2014 |
| Category | General Announcement |
| Reference No | CS-140718-40112 |
| Type | Announcement | ||||||||||||||||||||||||||||||||||||||||||
| Subject | DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS) DEALINGS OUTSIDE CLOSED PERIOD | ||||||||||||||||||||||||||||||||||||||||||
| Description | Pursuant to Chapter 14.09(a) of Bursa Malaysia's Main Market Listing Requirements on Dealing in Securities, the following Director of WZ Satu Berhad (formerly known as WZ Steel Berhad) ("WZ Satu") had transacted in securities of WZ Satu outside closed period, as set out in the table below. | ||||||||||||||||||||||||||||||||||||||||||
Name of Director: Dato' Amin Rafie Bin Othman
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WZSATU - Changes in Director's Interest (S135) - Dato' Amin Rafie Bin Othman
| Company Name | WZ SATU BERHAD |
| Stock Name | WZSATU |
| Date Announced | 18 Jul 2014 |
| Category | Changes in Director's Interest Pursuant to Section 135 of the Companies Act. 1965 |
| Reference No | CS-140718-39649 |
Information Compiled By KLSE
Particulars of Director
| Name | Dato' Amin Rafie Bin Othman |
| Address | No. 40 Lorong SS 1/11A 47300 Petaling Jaya Selangor Darul Ehsan |
| Descriptions(Class & nominal value) | Ordinary Shares of RM0.50 each |
Details of changes
Currency: Malaysian Ringgit (MYR)
Type of transaction | Date of change | No of securities | Price Transacted (RM) |
Disposed | 15,000 | 1.440 |
| Circumstances by reason of which change has occurred | Disposal |
| Nature of interest | Direct Interest |
| Consideration (if any) | 21,600 |
Total no of securities after change | |
| Direct (units) | 2,200 |
| Direct (%) | 0.0012 |
| Indirect/deemed interest (units) | |
| Indirect/deemed interest (%) | |
| Date of notice | 18/07/2014 |
| Remarks : |
| The notice was received by the Company on 18 July 2014. |
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