Administrative Actions in 2022 - Administrative Actions

Administrative Actions in 2022

No.	Nature of Misconduct	Parties Involved	Brief description of misconduct	Action Taken	Date of Action
1.	Six (6) breaches of section 354(1)(a) of the Capital Markets and Services Act 2007 (“CMSA”) read together with sections 369(b)(B) of the CMSA (“Breaches”)	Cheah Yew Keat	As the Group Managing Director of DIS Technology Holdings Berhad (“DISTB”), Cheah Yew Keat had knowingly caused the furnishing of six (6) financial statements of DISTB that were false to the stock exchange, Bursa Malaysia, relating to the affairs of DISTB.	Reprimand for each breach; and Penalty of RM2,730,000 which consists of RM455,000 for each breach.	3 March 2022
2.	Breach of Section 356(1)(a) of the Capital Markets and Services Act 2007 read together with Paragraph 4.17, Section B, Part 1 of the Guidelines on Unlisted Capital Market Products under the Lodge and Launch Framework	Kenanga Investors Berhad (“KIB”)	Delay of one (1) business day in the submission of the annual report for the financial year end 30 September 2021 to the SC for three (3) wholesale funds.	Penalty of RM3,000	3 March 2022
3.	Three (3) breaches of Section 354(1) of the CMSA read together with:- Paragraph 3.3.5 of the Federation of Investment Managers Malaysia’s Code of Ethics and Rules of Professional Conduct (Unit Trust Funds) as at 22 January 2013 (“Code”); Section 92A(2)(a) of the CMSA and Paragraph 3.1.3(a) of the Code; and Section 58(1) of the CMSA..	Nabihah Binti Shafiee (“Nabihah”)	As a Unit Trust Consultant of Affin Hwang Asset Management Berhad, Nabihah had:- accepted cash and had monies credited into her personal bank accounts from investors for purposes of investment in unit trusts; provided statements to individuals which she knew contained false or misleading information; and carried on a business in the regulated activity of dealing in private retirement schemes when she was not a registered person.	Reprimand for each breach; Requirement to make restitution to investors, amounting to RM52,618.00; and Penalty of RM472,500.00.	3 March 2022
4.	Breach of Section 354(1)(a) of the Capital Markets and Services Act 2007 (“CMSA”) read together with Section 369(b)(B) of the CMSA Breach of Section 354(1)(a) of the CMSA read together Paragraph 9.35A(1)(b) of the Main Market Listing Requirements	Prolexus Berhad (“Prolexus”)	Knowingly causing the furnishing of information contained in the announcement made by Prolexus to Bursa Malaysia Securities Berhad (“Bursa”) on 6 October 2020 (“Announcement”) that is misleading to Bursa.	Reprimand for each breach	27 January 2022 On 25 February 2022, Prolexus had applied to the SC for a review of its decision to sanction Prolexus.
5.	Breach of Section 354(1)(a) of the CMSA read together with Sections 369(b)(B) and 367(1) of the CMSA	Choong Chee Mun, Executive Director and Chief Financial Officer of Prolexus	Knowingly causing the furnishing of information contained in the Announcement that is misleading to Bursa.	Reprimand; and Penalty of RM280,000.00	27 January 2022 On 25 February 2022, Choong Chee Mun had applied to the SC for a review of its decision to sanction him and to consider reversing its decision.
6.	Breach of Section 354(1)(a) of the CMSA read together with Sections 369(b)(B) and 367(1) of the CMSA	Khadmudin Bin Mohamed Rafik, Independent Non-Executive Chairman of Prolexus	Knowingly causing the furnishing of information contained in the Announcement that is misleading to Bursa.	Reprimand; and Penalty of RM224,000.00	27 January 2022 On 25 February 2022, Khadmudin Bin Mohamed Rafik had applied to the SC for a review of its decision to sanction him and to consider reversing its decision.
7.	Breach of Section 354(1)(a) of the CMSA read together with Sections 369(b)(B) and 367(1) of the CMSA	Lau Mong Ying, Managing Director of Prolexus	Knowingly causing the furnishing of information contained in the Announcement that is misleading to Bursa.	Reprimand; and Penalty of RM224,000.00	27 January 2022 On 25 February 2022, Lau Mong Ying had applied to the SC for a review of its decision to sanction him and to consider a lighter punishment towards him.
8.	Breach of Section 354(1)(a) of the CMSA read together with Sections 369(b)(B) and 367(1) of the CMSA	Lau Mong Fah, Non-Independent Non-Executive Director of Prolexus	Knowingly causing the furnishing of information contained in the Announcement that is misleading to Bursa.	Reprimand; and Penalty of RM224,000.00	27 January 2022 On 25 February 2022, Lau Mong Fah had applied to the SC for a review of its decision to sanction him and to consider reversing its decision.
9.	Breach of Section 354(1)(a) of the CMSA read together with Sections 369(b)(B) and 367(1) of the CMSA	Boo Chin Liong, Independent Non-Executive Director of Prolexus	Knowingly causing the furnishing of information contained in the Announcement that is misleading to Bursa.	Reprimand; and Penalty of RM224,000.00	27 January 2022 On 25 February 2022, Prolexus had applied to the SC for a review of its decision to sanction him and to consider reversing its decision.
10.	Breach of Section 354(1)(a) of the CMSA read together with Sections 369(b)(B) and 367(1) of the CMSA	Chin Chew Mun, Independent Non-Executive Director of Prolexus	Knowingly causing the furnishing of information contained in the Announcement that is misleading to Bursa.	Reprimand; and Penalty of RM224,000.00	27 January 2022 On 25 February 2022, Chin Chew Mun had applied to the SC for a review of its decision to sanction him and to consider reversing its decision.
11.	Breach of Section 354(1)(a) of the CMSA read together with Sections 369(b)(B) and 367(1) of the CMSA	W Norma Binti W Daud, Independent Non-Executive Director of Prolexus	Knowingly causing the furnishing of information contained in the Announcement that is misleading to Bursa.	Reprimand; and Penalty of RM224,000.00	27 January 2022 On 25 February 2022, W Norma Binti W Daud had applied to the SC for a review of its decision to sanction her and to consider reversing its decision.
12.	Breach of Section 354(1)(a) of the CMSA read together with Sections 369(b)(B) and 367(1) of the CMSA	Ahmad Mustapha Bin Ghazali, Former Executive Chairman of Prolexus	Knowingly causing the furnishing of information contained in the Announcement that is misleading to Bursa.	Reprimand; and Penalty of RM224,000.00	27 January 2022 On 23 February 2022, Ahmad Mustapha Bin Ghazali had applied to the SC for a review of its decision to sanction him and to consider reversing its decision.
13.	Breach of Section 354(1)(a) of the CMSA read together with Sections 369(b)(B) and 367(1) of the CMSA	Lim Yong Lee, Former Independent Non-Executive Director of Prolexus	Knowingly causing the furnishing of information contained in the Announcement that is misleading to Bursa.	Reprimand; and Penalty of RM224,000.00	27 January 2022 On 16 February 2022, Lim Yong Lee had applied to the SC for a review of its decision to sanction him and to consider reversing its decision.

No record found.