Bursa Malaysia Securities has publicly reprimanded Jerasia Capital Berhad and 8 of its directors for breaches of the Bursa Malaysia Securities Main Market Listing Requirements
In addition, the 8 directors were imposed with total fines of RM600,000, it was fined for defaults in payment, failing to make an immediate announcement of the defaults in payment of various credit facilities by the company’s wholly-owned subsidiaries, Jerasia Fashion Sdn. Bhd. Jerasia Apparel Sdn. Bhd. and Canteran Apparel Sdn. Bhd.
The group had also failed to make an immediate announcement of the writ of summons (Writ) and statement of claim (SOC) filed by the lenders against the subsidiaries and the summary judgments obtained by AmBank (M) Berhad (AmBank) and Alliance Bank Malaysia Berhad. It had also failed to make an immediate announcement of the winding-up petition filed by AmBank.
All 8 directors of JERASIA at the material time had breached paragraph 16.13(b) of the Main LR for permitting the company to commit the breaches.
