Kuala Lumpur, 12 September 2011
SC statement on the Sime Darby-E&O shares transaction
The SC continues to receive queries on the Sime Darby-E&O shares transaction. We would like to reiterate that we are examining the circumstances surrounding the transaction for any Takeover Code implications. We are also reviewing all stock transactions by all parties over the relevant period related to this matter. The outcome of these two reviews will only be known after all the relevant facts have been established.
In accordance with the SC’s internal governance processes, the reviews are being led by the two most senior Commission Members, Datuk Francis Tan and Datuk Gumuri Hussain and the SC Chairman had, from the onset, recused herself.
The SC’s Statement of Principles and Standards requires the SC to observe the highest ethical and governance standards in the discharge of our functions. The SC has always upheld this and will continue to do so.
SECURITIES COMMISSION MALAYSIA