SATANG - SATANG HOLDINGS BERHAD PUBLICLY REPRIMANDED AND SIX DIRECTORS FINED A TOTAL OF RM180,000
Announcement Type: Listing Circular
Company Name: SATANG HOLDINGS BERHAD
Stock Name: SATANG
Date Announced: 30/06/2011
Announcement Detail:
Subject: SATANG HOLDINGS BERHAD PUBLICLY REPRIMANDED AND SIX DIRECTORS FINED A TOTAL OF RM180,000
Contents: Bursa Malaysia Securities Berhad ("Bursa Securities") publicly reprimands Satang Holdings Berhad ("SATANG") for breaches of the Main Market Listing Requirements ("Main LR"); and publicly reprimands and fines its directors a total of RM180,000.00.
Bursa Securities wishes to remind SATANG and its Board of Directors of their responsibility to maintain appropriate standards of corporate responsibility and accountability to the shareholders and the investing public.
PUBLIC REPRIMAND ON SATANG HOLDINGS BERHAD
1. Bursa Securities publicly reprimands SATANG for breach of paragraph 15.09(1) of the Main LR.
2. Pursuant to paragraph 15.09(1) of the Main LR, a listed issuer must appoint and maintain an audit committee at all material times.
3. SATANG had breached paragraph 15.09(1) of the Main LR arising from the dissolution of its audit committee on 1 November 2010.
SATANG had during its Board of Directors' meeting on 1 November 2010 approved the dissolution of its audit committee entirely with immediate effect. In response to Bursa Securities' query, SATANG had clarified that the dissolution was in view of the resignation of its audit committee member with the Malaysian Institute of Accountants qualification. The dissolution was undertaken despite SATANG having up to 3 months from the resignation to fill the vacancy pursuant to paragraph 15.19 of the Main LR.
PUBLIC REPRIMAND AND TOTAL FINES OF RM180,000.00 ON 6 DIRECTORS
4. The following directors of SATANG who had approved the dissolution were found to be in breach of paragraph 16.13(b) of the Main LR for permitting knowingly or where they had reasonable means of obtaining such knowledge, SATANG to commit the above breach and were imposed with the following penalties:-
No. Director Penalty 1. MAJOR (R) JAMALUDIN BIN HASAN
Chairman & Executive Director
Appointed on 3 July 2009
Resigned on 11 November 2010 Public Reprimand & Fine of RM30,000 2. MALIM BIN MOHAMED
Managing Director
Appointed on 3 July 2009
Resigned on 1 January 2011 Public Reprimand & Fine of RM30,000 3. TAJUDIN BIN TALIB
Executive Director
Appointed on 21 December 2009
Resigned on 5 January 2011 Public Reprimand & Fine of RM30,000 4. LOTFI BIN MISKAM
Non-Independent and Non-Executive Director
Appointed on 17 August 2010 Public Reprimand & Fine of RM30,000 5. AZHAR BIN AZIZAN @ HARUN
Non-Independent and Non-Executive Director
Appointed on 28 August 2010 Public Reprimand & Fine of RM30,000 6. DR MOHAMAD SALMI BIN MOHD SOHOD
Independent and Non-Executive Director
Appointed on 20 September 2010 Public Reprimand & Fine of RM30,000
5. The finding of breach and imposition of the above penalties on SATANG and the directors are made pursuant to paragraph 16.19 of the Main LR upon completion of due process and after taking into consideration all facts and circumstances of the matter and in particular:-
(a) The materiality of the breach including that the requirement for a listed company to maintain an audit committee at all times is one of the fundamental obligations of companies listed on the Official List of Bursa Securities. In this regard, an audit committee plays a crucial role in the corporate governance of a listed company and protecting the interest of shareholders via the assessment of the risks and control environment of a listed company, overseeing the financial reporting, evaluating the internal and external audit process and reviewing conflict of interest situations and related party transactions. As such, whilst SATANG had reconstituted its audit committee on 3 November 2010 (i.e, 2 market days later) in accordance with the directive of Bursa Securities, Bursa Securities views the breach seriously in view of its significance towards market integrity; and (b) The conduct of the directors in blatantly disregarding the obligations under the Main LR despite being advised that the audit committee need not be dissolved and that the listing requirements allow the vacancy to be filled up within 3 months.
Company Name: SATANG HOLDINGS BERHAD
Stock Name: SATANG
Date Announced: 30/06/2011
Announcement Detail:
Subject: SATANG HOLDINGS BERHAD PUBLICLY REPRIMANDED AND SIX DIRECTORS FINED A TOTAL OF RM180,000
Contents: Bursa Malaysia Securities Berhad ("Bursa Securities") publicly reprimands Satang Holdings Berhad ("SATANG") for breaches of the Main Market Listing Requirements ("Main LR"); and publicly reprimands and fines its directors a total of RM180,000.00.
Bursa Securities wishes to remind SATANG and its Board of Directors of their responsibility to maintain appropriate standards of corporate responsibility and accountability to the shareholders and the investing public.
PUBLIC REPRIMAND ON SATANG HOLDINGS BERHAD
1. Bursa Securities publicly reprimands SATANG for breach of paragraph 15.09(1) of the Main LR.
2. Pursuant to paragraph 15.09(1) of the Main LR, a listed issuer must appoint and maintain an audit committee at all material times.
3. SATANG had breached paragraph 15.09(1) of the Main LR arising from the dissolution of its audit committee on 1 November 2010.
SATANG had during its Board of Directors' meeting on 1 November 2010 approved the dissolution of its audit committee entirely with immediate effect. In response to Bursa Securities' query, SATANG had clarified that the dissolution was in view of the resignation of its audit committee member with the Malaysian Institute of Accountants qualification. The dissolution was undertaken despite SATANG having up to 3 months from the resignation to fill the vacancy pursuant to paragraph 15.19 of the Main LR.
PUBLIC REPRIMAND AND TOTAL FINES OF RM180,000.00 ON 6 DIRECTORS
4. The following directors of SATANG who had approved the dissolution were found to be in breach of paragraph 16.13(b) of the Main LR for permitting knowingly or where they had reasonable means of obtaining such knowledge, SATANG to commit the above breach and were imposed with the following penalties:-
No. Director Penalty 1. MAJOR (R) JAMALUDIN BIN HASAN
Chairman & Executive Director
Appointed on 3 July 2009
Resigned on 11 November 2010 Public Reprimand & Fine of RM30,000 2. MALIM BIN MOHAMED
Managing Director
Appointed on 3 July 2009
Resigned on 1 January 2011 Public Reprimand & Fine of RM30,000 3. TAJUDIN BIN TALIB
Executive Director
Appointed on 21 December 2009
Resigned on 5 January 2011 Public Reprimand & Fine of RM30,000 4. LOTFI BIN MISKAM
Non-Independent and Non-Executive Director
Appointed on 17 August 2010 Public Reprimand & Fine of RM30,000 5. AZHAR BIN AZIZAN @ HARUN
Non-Independent and Non-Executive Director
Appointed on 28 August 2010 Public Reprimand & Fine of RM30,000 6. DR MOHAMAD SALMI BIN MOHD SOHOD
Independent and Non-Executive Director
Appointed on 20 September 2010 Public Reprimand & Fine of RM30,000
5. The finding of breach and imposition of the above penalties on SATANG and the directors are made pursuant to paragraph 16.19 of the Main LR upon completion of due process and after taking into consideration all facts and circumstances of the matter and in particular:-
(a) The materiality of the breach including that the requirement for a listed company to maintain an audit committee at all times is one of the fundamental obligations of companies listed on the Official List of Bursa Securities. In this regard, an audit committee plays a crucial role in the corporate governance of a listed company and protecting the interest of shareholders via the assessment of the risks and control environment of a listed company, overseeing the financial reporting, evaluating the internal and external audit process and reviewing conflict of interest situations and related party transactions. As such, whilst SATANG had reconstituted its audit committee on 3 November 2010 (i.e, 2 market days later) in accordance with the directive of Bursa Securities, Bursa Securities views the breach seriously in view of its significance towards market integrity; and (b) The conduct of the directors in blatantly disregarding the obligations under the Main LR despite being advised that the audit committee need not be dissolved and that the listing requirements allow the vacancy to be filled up within 3 months.
VASTALX - GENERAL MEETINGS: OUTCOME OF MEETING
Announcement Type: General Announcement
Company Name: VASTALUX ENERGY BERHAD
Stock Name: VASTALX
Date Announced: 30/06/2011
Announcement Detail:
Type: Announcement
Subject: GENERAL MEETINGS
OUTCOME OF MEETING
Description: VASTALUX ENERGY BERHAD ("VEB" or "Company")
Fourth Annual General Meeting ("4th AGM")
Company Name: VASTALUX ENERGY BERHAD
Stock Name: VASTALX
Date Announced: 30/06/2011
Announcement Detail:
Type: Announcement
Subject: GENERAL MEETINGS
OUTCOME OF MEETING
Description: VASTALUX ENERGY BERHAD ("VEB" or "Company")
Fourth Annual General Meeting ("4th AGM")
VASTALX - Change of Registrar
Announcement Type: Change of Registrar
Company Name: VASTALUX ENERGY BERHAD
Stock Name: VASTALX
Date Announced: 30/06/2011
Announcement Detail:
Old registrar: MIDF Consultancy & Corporate Services Sendirian Berhad
New registrar: Equiniti Services Sdn. Bhd. (Formerly known as MIDF Consultancy & Corporate Services Sendirian Berhad)
Address: Level 8 Menara MIDF,
82, Jalan Raja Chulan
50200 Kuala Lumpur
Telephone No: 03-2166 0933
Facsimile No: 03-2166 0688
Effective date: 30/06/2011
Remarks: Change of name of Share Registrar, telephone and facsimile numbers and email address.
The address of the Registrar remains unchanged.
Company Name: VASTALUX ENERGY BERHAD
Stock Name: VASTALX
Date Announced: 30/06/2011
Announcement Detail:
Old registrar: MIDF Consultancy & Corporate Services Sendirian Berhad
New registrar: Equiniti Services Sdn. Bhd. (Formerly known as MIDF Consultancy & Corporate Services Sendirian Berhad)
Address: Level 8 Menara MIDF,
82, Jalan Raja Chulan
50200 Kuala Lumpur
Telephone No: 03-2166 0933
Facsimile No: 03-2166 0688
Effective date: 30/06/2011
Remarks: Change of name of Share Registrar, telephone and facsimile numbers and email address.
The address of the Registrar remains unchanged.
DAIBOCI - Notice of Shares Buy Back by a Company pursuant to Form 28A
Announcement Type: Notice of Shares Buy Back by a Company Pursuant to Form 28A
Company Name: DAIBOCHI PLASTIC AND PACKAGING INDUSTRY BHD.
Stock Name: DAIBOCI
Date Announced: 30/06/2011
Announcement Detail:
Date of buy back from: 22/06/2011
Date of buy back to: 28/06/2011
Currency: Malaysian Ringgit (MYR)
Total number of shares purchased (units): 35,000
Minimum price paid for each share purchased ($$): 2.580
Maximum price paid for each share purchased ($$): 2.630
Total amount paid for shares purchased ($$): 91,564.67
The name of the stock exchange through which the shares were purchased: Bursa Malaysia Securities Berhad
Number of shares purchased retained in treasury (units): 35,000
Total number of shares retained in treasury (units): 389,300
Number of shares purchased which were cancelled (units): 0
Total issued capital as diminished: 0
Date lodged with registrar of companies: 30/06/2011
Lodged by: Tan Gaik Hong
Company Name: DAIBOCHI PLASTIC AND PACKAGING INDUSTRY BHD.
Stock Name: DAIBOCI
Date Announced: 30/06/2011
Announcement Detail:
Date of buy back from: 22/06/2011
Date of buy back to: 28/06/2011
Currency: Malaysian Ringgit (MYR)
Total number of shares purchased (units): 35,000
Minimum price paid for each share purchased ($$): 2.580
Maximum price paid for each share purchased ($$): 2.630
Total amount paid for shares purchased ($$): 91,564.67
The name of the stock exchange through which the shares were purchased: Bursa Malaysia Securities Berhad
Number of shares purchased retained in treasury (units): 35,000
Total number of shares retained in treasury (units): 389,300
Number of shares purchased which were cancelled (units): 0
Total issued capital as diminished: 0
Date lodged with registrar of companies: 30/06/2011
Lodged by: Tan Gaik Hong
DAIBOCI - Notice of Shares Buy Back - Immediate Announcement
Announcement Type: Notice of Shares Buy Back - Immediate Announcement
Company Name: DAIBOCHI PLASTIC AND PACKAGING INDUSTRY BHD.
Stock Name: DAIBOCI
Date Announced: 30/06/2011
Announcement Detail:
Date of buy back: 30/06/2011
Description of shares purchased: Ordinary shares of RM1.00 each
Currency: Malaysian Ringgit (MYR)
Total number of shares purchased (units): 26,000
Minimum price paid for each share purchased ($$): 2.600
Maximum price paid for each share purchased ($$): 2.620
Total consideration paid ($$): 68,235.17
Number of shares purchased retained in treasury (units): 26,000
Number of shares purchased which are proposed to be cancelled (units): 0
Cumulative net outstanding treasury shares as at to-date (units): 439,800
Adjusted issued capital after cancellation (no. of shares) (units): 0
Total number of shares purchased and/or held as treasury shares against the total number of outstanding shares of the listed issuer (%): 0.58
Company Name: DAIBOCHI PLASTIC AND PACKAGING INDUSTRY BHD.
Stock Name: DAIBOCI
Date Announced: 30/06/2011
Announcement Detail:
Date of buy back: 30/06/2011
Description of shares purchased: Ordinary shares of RM1.00 each
Currency: Malaysian Ringgit (MYR)
Total number of shares purchased (units): 26,000
Minimum price paid for each share purchased ($$): 2.600
Maximum price paid for each share purchased ($$): 2.620
Total consideration paid ($$): 68,235.17
Number of shares purchased retained in treasury (units): 26,000
Number of shares purchased which are proposed to be cancelled (units): 0
Cumulative net outstanding treasury shares as at to-date (units): 439,800
Adjusted issued capital after cancellation (no. of shares) (units): 0
Total number of shares purchased and/or held as treasury shares against the total number of outstanding shares of the listed issuer (%): 0.58
KFM - NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS): FUND RAISING
Announcement Type: General Announcement
Submitting Merchant Bank: AFFIN INVESTMENT BANK BERHAD
Company Name: KUANTAN FLOUR MILLS BHD
Stock Name: KFM
Date Announced: 30/06/2011
Announcement Detail:
Type: Announcement
Subject: NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
FUND RAISING
Description: KUANTAN FLOUR MILLS BERHAD ("KFM" OR THE "COMPANY")
- CAPITAL REDUCTION;
- PRIVATE PLACEMENT;
- RIGHTS ISSUE;
- INCREASE IN AUTHORISED SHARE CAPITAL; AND
- AMENDMENTS
(COLLECTIVELY, THE "CORPORATE EXERCISES")
Submitting Merchant Bank: AFFIN INVESTMENT BANK BERHAD
Company Name: KUANTAN FLOUR MILLS BHD
Stock Name: KFM
Date Announced: 30/06/2011
Announcement Detail:
Type: Announcement
Subject: NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
FUND RAISING
Description: KUANTAN FLOUR MILLS BERHAD ("KFM" OR THE "COMPANY")
- CAPITAL REDUCTION;
- PRIVATE PLACEMENT;
- RIGHTS ISSUE;
- INCREASE IN AUTHORISED SHARE CAPITAL; AND
- AMENDMENTS
(COLLECTIVELY, THE "CORPORATE EXERCISES")
MITHRIL - TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS): NON RELATED PARTY TRANSACTIONS
Announcement Type: General Announcement
Submitting Merchant Bank: TA SECURITIES HOLDINGS BERHAD
Company Name: MITHRIL BERHAD
Stock Name: MITHRIL
Date Announced: 30/06/2011
Announcement Detail:
Type: Announcement
Subject: TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description: MITHRIL BERHAD ("MITHRIL" OR THE "COMPANY")
DISPOSAL OF EIGHT (8) SUBSIDIARY PARCELS OF COMMERCIAL/OFFICE SPACE FORMING PART OF AN ELEVEN (11)-STOREY OFFICE BUILDING BY MITHRIL BERHAD TO EPISO REALTY DEVELOPMENT SDN BHD ("EPISO REALTY" OR "PURCHASER") ("DISPOSAL")
Submitting Merchant Bank: TA SECURITIES HOLDINGS BERHAD
Company Name: MITHRIL BERHAD
Stock Name: MITHRIL
Date Announced: 30/06/2011
Announcement Detail:
Type: Announcement
Subject: TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description: MITHRIL BERHAD ("MITHRIL" OR THE "COMPANY")
DISPOSAL OF EIGHT (8) SUBSIDIARY PARCELS OF COMMERCIAL/OFFICE SPACE FORMING PART OF AN ELEVEN (11)-STOREY OFFICE BUILDING BY MITHRIL BERHAD TO EPISO REALTY DEVELOPMENT SDN BHD ("EPISO REALTY" OR "PURCHASER") ("DISPOSAL")
LIONFIB - TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS): NON RELATED PARTY TRANSACTIONS
Announcement Type: General Announcement
Company Name: LION FOREST INDUSTRIES BERHAD
Stock Name: LIONFIB
Date Announced: 30/06/2011
Announcement Detail:
Type: Announcement
Subject: TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description: LION FOREST INDUSTRIES BERHAD ("LFIB" OR THE "COMPANY")
PROPOSED DISPOSAL OF 75% EQUITY INTEREST IN SHANDONG SILVERSTONE LUHE RUBBER & TYRE CO., LTD ("SHANDONG SILVERSTONE") BY LION RUBBER INDUSTRIES SDN BHD ("LRI"), A WHOLLY-OWNED SUBSIDIARY OF LFIB, TO TOYO TIRE & RUBBER CO., LTD. ("TOYO TIRE") FOR A CASH CONSIDERATION OF APPROXIMATELY USD21.6 MILLION (EQUIVALENT TO APPROXIMATELY RM65.9 MILLION) SUBJECT TO ADJUSTMENTS AND A SETTLEMENT OF INTERCOMPANY DEBTS OF APPROXIMATELY USD24.4 MILLION (EQUIVALENT TO APPROXIMATELY RM74.4 MILLION) ("PROPOSED DISPOSAL")
Company Name: LION FOREST INDUSTRIES BERHAD
Stock Name: LIONFIB
Date Announced: 30/06/2011
Announcement Detail:
Type: Announcement
Subject: TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description: LION FOREST INDUSTRIES BERHAD ("LFIB" OR THE "COMPANY")
PROPOSED DISPOSAL OF 75% EQUITY INTEREST IN SHANDONG SILVERSTONE LUHE RUBBER & TYRE CO., LTD ("SHANDONG SILVERSTONE") BY LION RUBBER INDUSTRIES SDN BHD ("LRI"), A WHOLLY-OWNED SUBSIDIARY OF LFIB, TO TOYO TIRE & RUBBER CO., LTD. ("TOYO TIRE") FOR A CASH CONSIDERATION OF APPROXIMATELY USD21.6 MILLION (EQUIVALENT TO APPROXIMATELY RM65.9 MILLION) SUBJECT TO ADJUSTMENTS AND A SETTLEMENT OF INTERCOMPANY DEBTS OF APPROXIMATELY USD24.4 MILLION (EQUIVALENT TO APPROXIMATELY RM74.4 MILLION) ("PROPOSED DISPOSAL")
TALIWRK - MATERIAL LITIGATION
Announcement Type: General Announcement
Company Name: TALIWORKS CORPORATION BERHAD
Stock Name: TALIWRK
Date Announced: 30/06/2011
Announcement Detail:
Type: Announcement
Subject: MATERIAL LITIGATION
Description: TALIWORKS CORPORATION BERHAD ("Taliworks" or "the Company")
- Initiation of civil suit by Beijing Puresino Boda Environmental Engineering Co Ltd ("BODA") against Puresino (Guanghan) Water Co Ltd ("Puresino Guanghan"), a subsidiary of Taliworks ("Civil Suit")
Company Name: TALIWORKS CORPORATION BERHAD
Stock Name: TALIWRK
Date Announced: 30/06/2011
Announcement Detail:
Type: Announcement
Subject: MATERIAL LITIGATION
Description: TALIWORKS CORPORATION BERHAD ("Taliworks" or "the Company")
- Initiation of civil suit by Beijing Puresino Boda Environmental Engineering Co Ltd ("BODA") against Puresino (Guanghan) Water Co Ltd ("Puresino Guanghan"), a subsidiary of Taliworks ("Civil Suit")
LBALUM - Quarterly rpt on consolidated results for the financial period ended 30/4/2011
Announcement Type: Financial Results
Company Name: LB ALUMINIUM BERHAD
Stock Name: LBALUM
Date Announced: 30/06/2011
Announcement Detail:
Financial Year End: 30/04/2011
Quarter: 4
Quarterly report for the financial period ended: 30/04/2011
The figures: have not been audited
Currency: Malaysian Ringgit (MYR)
Company Name: LB ALUMINIUM BERHAD
Stock Name: LBALUM
Date Announced: 30/06/2011
Announcement Detail:
Financial Year End: 30/04/2011
Quarter: 4
Quarterly report for the financial period ended: 30/04/2011
The figures: have not been audited
Currency: Malaysian Ringgit (MYR)
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