Public Reprimand: Breaches of Listing Rules
1. The SGX-ST Listings Disciplinary Committee (the “LDC”) reprimands Astaka Holdings Limited (the “Company”) for breaching Catalist Rule 703(1)(a) by failing to promptly disclose its wholly-owned indirect subsidiary’s receipt of a letter of demand dated 11 July 2019, a piece of material information known to the Company which was necessary to avoid the establishment of a false market in the Company’s securities.
2. The LDC also reprimands:
(a) Dato’ Zamani Bin Kasim, present Executive Director and former Chief Executive Officer of the Company; and
(b) Lee Shih Yi, former Chief Financial Officer of the Company,
under Catalist Rule 302(6), for causing the Company to breach Catalist Rule 703(1)(a).
3. In addition, the LDC requires Dato’ Zamani Bin Kasim to provide a signed written undertaking to SGX-ST to resign from all his current positions and not to be appointed to any position in the Company for a period of two years from 17 August 2021.
4. The LDC’s Grounds of Decision can be found here.
