Bursa Malaysia Securities Bhd has publicly reprimanded Hua Yang Bhd for breaching listing rules after the property developer bought back 4.48 million of its own shares through a direct business transaction instead of on the open market.
Bursa Malaysia Securities said Hua Yang breached Main Market Listing Requirements which requires listed companies to ensure that any purchase of their own shares is conducted only on the market of the Exchange.
The breach occurred on April 22, 2026, when Hua Yang bought back 4,480,540 shares at RM0.195 each, involving a total consideration of RM876,515.98, through a Direct Business Transaction (DBT).
Bursa said the entire block of shares did not qualify as an odd-lot transaction and therefore should have been executed on the market of the Exchange.
Under the listing requirement, a listed company may purchase odd-lot shares — securities quoted on the Official List comprising fewer than 100 units — through a DBT.
However, Bursa noted that the 4.48 million Hua Yang shares involved in the transaction were not an odd lot and consequently should have been purchased through the market as required under paragraph 12.04
