Following the directive from the Securities Commission to Quantum Metal to cease and desist from offering the Quantum Metal Exchange Inc’s share in Malaysia, the company has instructed all its consultants and agency’s to abide and stop immediately.
The SC ordered Quantum Metal and its CEO to stop offering the services as it said the offerings were carried out without seeking recognition and registering a disclosure document with the regularity body which it said was in contravention of Section 212 (5) of the Capital Markets & Services Act 2007. Consequently, the SC has also placed QMEI with its relevant details on the SC’s Investor Alert List
Subsequently, Quantum has put up a notice on its website requesting all its consultants and agency leaders to immediately cease all activities related to making available or offering Quantum Metal Exchange Inc’s shares in Malaysia. Which includes also any content and actions conducted through websites, platforms, agents, and/or social media channels.
It also reminded the agencies that the notice is issued in strict compliance with the Directive, and that failure to adhere to the instruction constitutes an offence.
The company is helmed by Dato Lim Khong Soon who is sometime regarded as the bullion king.
