Seacera publicly reprimanded by Bursa Malaysia

PETALING JAYA: Bursa Malaysia Securities Bhd has publicly reprimanded Seacera Group Bhd in respect of the group’s fourth quarter report for the financial year ended Dec 31, 2016 that contravened Bursa Malaysia Securities Main Market Listing Requirements (Main LR).
The regulator said the group failed to ensure that its financial report published on Feb 28, 2017 took into account the adjustments announced by the group on May 18, 2017.
Seacera is required to review and ensure the adequacy and effectiveness of its financial reporting function and carry out a limited review on its quarterly report submissions, Bursa Malaysia said.
“The limited review must be performed by the company’s external auditors for four quarterly reports commencing no later from the quarterly report for the financial period ended June 30, 2018.
“In addition, Seacera must ensure all its directors and relevant personnel attend a training programme in relation to compliance with the Main LR pertaining to financial statements,” it added.
The group slipped two sen or 3.23% to 60 sen today with 780,700 shares traded.