KUALA LUMPUR: Bursa Malaysia has reprimanded Multi Sports Holdings Ltd for breaches of listing requirements on the stock market.
In a statement today, Bursa said Multi Sports had failed to submit its 2017 annual audited financial statements together with the auditors and directors' report before April 30 last year.
The 2017 annual report was only issued on June 7 last year after a delay of 23 market days.
Multi Sports had failed to announce first quarter results ended March 2018 before May 31, 2018.
It was only announced on June 14 last year after a delay of 10 market days.
The stock market regulator said Multi Sports' directors had a duty to maintain appropriate standards of responsibility and accountability.
The board of directors of Multi Sports at the material time of the breaches were Terence Selvarajah, Naren Anand Gill, Clarence Yeow Kong Chew and Guan Swee Kwee.
Bursa reiterated that timely submission of financial statements was one of the fundamental obligation of listed companies as it facilitates institutional and minority shareholders to make informed investment decisions.