Bursa Malaysia Securities reprimands SKP resources Berhad and fines 3 Executive Directors a total of RM200,000

Bursa Malaysia Securities Berhad has publicly reprimanded SKP Resources Berhad and 3 executive directors, for breaches of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (Main LR). In addition, the 3 executive directors of SKP were fined a total of RM200,000.

SKP had verbally disclosed the Contract including the contract value to 2 research houses on 7 May 2015 without making an announcement of the same to Bursa Securities immediately thereafter.

In addition to the public reprimand, SKP is required to undertake or arrange for the necessary training programmes in relation to compliance with the disclosure obligation under the Main LR and ensure its directors and relevant personnel of the Company attend the same.

The 3 executive directors of SKP (Dato’ Gan Kim Huat, Gan Poh San and Chia Choong Kim) are publicly reprimanded for breaching paragraph 16.13(b) of the Main LR where they had permitted SKP to commit the above breaches.

Bursa Malaysia Securities has reminded SKP and its Board of Directors on their responsibility to maintain the appropriate standards of corporate responsibility and accountability to its shareholders and the investing public.

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