Bursa reprimands Malaysia Pacific, directors

PETALING JAYA: Bursa Malaysia Securities Bhd has publicly reprimanded Malaysia Pacific Corp Bhd and its directors for failure to announce its annual audited accounts for the financial year ended June 30, 2014 by Nov 1, 2014.
The eight directors of Malaysia Pacific were also fined a total of RM39,900.
Malaysia Pacific’s announcement was instead only made on Dec 1, 2014.
The delay in the announcement of the audited accounts was essentially due to the failure of Malaysia Pacific to resolve certain outstanding audit matters which formed the basis for the external auditors’ disclaimer audit opinion in the AAA 2014.
Malaysia Pacific and its directors did not take reasonable steps/efforts to provide the information required and to address and resolve with the external auditors the outstanding audit matters expeditiously to enable the finalisation and issuance of the audited accounts on or before Oct 31, 2014.