Bursa Malaysia Securities Berhad [Registration No.: 200301033577 (635998-W)] (Bursa Malaysia Securities) has publicly reprimanded Smile-Link Healthcare Global Berhad (SMILELINK) for breach of the Bursa Malaysia Securities LEAP Market Listing Requirements (LEAP LR).
SMILE-LINK was publicly reprimanded for breach of Rule 6.13 of the LEAP LR for failing to announce the annual audited financial statements together with the information set out in Part B of Appendix 6A as well as the auditors’ and directors’ reports for the 18-months financial period end 30 June 2024 (AFS 2024) on or before 31 October 2024. SMILE-LINK only announced the AFS 2024 on 30 April 2025, after a delay of 6 months.
SMILE-LINK was also required to ensure its Board of Directors review and assess the adequacy and competency of the company’s finance and accounting resources and adequacy, comprehensiveness, implementation and effectiveness of the company’s policies and procedures in respect of financial reporting.
The finding of breach and imposition of the public reprimand on SMILE-LINK was made pursuant to Rule 8.12 of the LEAP LR upon completion of due process and after taking into consideration all facts and circumstances of the matter including the materiality and impact of the breach.
Bursa Malaysia Securities views the breach seriously as timely submission of financial statements is a fundamental obligation of listed companies and is of paramount importance in ensuring an orderly and fair market for securities traded on Bursa Malaysia Securities and necessary to aid informed investment decisions.
Bursa Malaysia Securities has also reminded SMILE-LINK and its Board of Directors of their responsibilities to maintain the appropriate standards of corporate responsibility and accountability to its shareholders and the investing public.
BACKGROUND
SMILE-LINK’s failure to issue the AFS 2024 on or before 31 October 2024 was mainly due to the company’s failure to address/resolve issues and dispute with the external auditors which led to the removal of the external auditors on 20 January 2025.
This did not justify the delay as all listed companies should be aware of their obligation to ensure timely announcement of financial statements within the stipulated timeframe which is a recurring regulatory obligation and must manage their engagement with the external auditors on finalisation of the audit to ensure compliance with the listing requirements.
