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Bursa Malaysia Securities Berhad (Bursa Securities) said today that it has commenced enforcement proceedings against Kenmark Industrial Co. (M) Berhad (Kenmark), its Managing Director, Hwang Ding Kuo @ James Hwang and Executive Director, Chang Chin-Chuan for various breaches of disclosure requirements under the Listing Requirements (“LR”).
Kenmark and the two directors have been served with a notice to show cause by Bursa Securities today to make representations to Bursa Securities in respect of various alleged breaches of the LR arising from, amongst others, various disclosures made by Kenmark including the announcements on 31 May 2010, 1 and 4 June 2010. Due process is therefore accorded to Kenmark and the directors prior to making a decision on the alleged breaches and Bursa Securities will impose appropriate sanctions should a finding of breach be made.
Other than these identified breaches, Bursa Securities is still in the midst of various stages of investigations of other possible contraventions of the LR and upon completion of and subject to the outcome of these investigations, Bursa Securities may initiate other enforcement proceedings against the relevant parties.
