KUALA LUMPUR: Bursa Malaysia Securities Bhd has publicly reprimanded Iqzan Holding Bhd
and five of its directors for breaches of the Main Market Listing Requirements (Main LR).
In a statement today, Bursa Malaysia Securities said the company had committed multiple breaches, including failing to obtain shareholders’ approval for the disposal of industrial property and providing inaccurate and misleading disclosures regarding the disposal of shares in its wholly owned subsidiary, Zoomic Technology (M) Sdn Bhd (ZTSB).
"The breaches involved disposal of property breach in which the company failed to obtain shareholders’ approval for the sale of two adjoining leasehold industrial lots in Bayan Lepas, Penang which was completed on Nov 15, 2023.
"Additionally, Iqzan Holding had inaccurately represented the financial impact and percentage ratio of its disposal of ZTSB shares in the announcements dated Aug 8 and Aug 10, 2023.
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