Bursa publicly reprimands Jerasia Capital for breaching listing rules

Bursa publicly reprimands Jerasia Capital for breaching listing rules

It also imposes fines amounting to RM600,000 on eight directors.

Jerasia Capital was publicly reprimanded for defaults in payment of various credit facilities by the company’s wholly-owned subsidiaries.
KUALA LUMPUR:
Bursa Malaysia Securities Bhd has publicly reprimanded Jerasia Capital Bhd and eight of its directors for breaches of Bursa Malaysia’s securities main market listing requirements.

In addition, the eight directors were also imposed total fines amounting to RM600,000.

“Jerasia was publicly reprimanded for defaults in payment of various credit facilities by the company’s wholly-owned subsidiaries — Jerasia Fashion Sdn Bhd (JFSB), Jerasia Apparel Sdn Bhd and Canteran Apparel Sdn Bhd,” the exchange said in a statement.

Bursa Malaysia also said Jerasia had failed to ensure that the company’s announcements, dated Aug 23, 2021 and Nov 26, 2021, on the dates of the defaults in payment to the various lenders were accurate.

“Jerasia also failed to make an immediate announcement of the writ of summons and statement of claim filed by the lenders against the subsidiaries of Jerasia and/or Jerasia (Litigations) and the summary judgments obtained by AmBank (M) Bhd and Alliance Bank Malaysia Bhd.

“It had also failed to make an immediate announcement of the winding-up petition filed by AmBank against JFSB,” it added.

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