Bursa Malaysia Securities Bhd has fined former Scanwolf Corporation Bhd executive director Cheong Chen Khan RM30,000 for submitting misleading statements in the company’s annual reports.
It said Cheong had falsely represented himself as a recipient of the honorific title “Dato”, in breach of Paragraphs 2.18(1)(a) and (c) of the Main Market Listing Requirements.
The paragraphs stipulate that a director of a listed company must ensure any statement, information or document submitted is clear, accurate, and not false or misleading.
“Cheong had submitted and/or caused Scanwolf to submit inaccurate and false, misleading statements pertaining to his honorific title ‘Dato’ in Scanwolf’s annual reports for the financial years ended June 30, 2022, 2023, and 2024,” it said in a statement today.
Cheong resigned from the company’s board on Oct 1.
The exchange also said the reprimand and fine were imposed after taking into account all facts and circumstances of the case and following due process.
“Bursa Malaysia Securities views the breach seriously, as all directors must maintain the highest standards of integrity, accountability, corporate governance, and responsibility,” it said.
