In today’s edition of Evening 5 — Bursa Malaysia reprimands Dataprep Holdings and its directors and fines them RM500,000 for breaching listing requirements. Meanwhile, Kuala Lumpur Kepong buys an additional 1.34 million Boustead Plantation shares, and Mercury Securities ends its first day of trading at a 20% premium over its offer price of 25 sen.
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00:00 [Music]
00:04 Bursa Malaysia Securities has publicly reprimanded Dataprep Holdings and five of its directors
00:10 for breaching main market listing requirements.
00:13 The five directors were fined a total of RM500,000.
00:17 In a statement, Bursa said the company had committed the breach in its announcement dated March 2, 2021
00:24 in response to an unusual market activity or Umar query the day before.
00:29 The Umar response had stated, among others, that Dataprep was not aware of any corporate developments
00:35 relating to the group's business and affairs, including those in the stage of negotiation or discussion
00:42 that had not been previously announced that might account for the said unusual market activity.
00:47 Bursa said the response was not factual, inaccurate and did not share crucial information to investors
00:53 as Dataprep had failed to disclose and in fact denied knowledge of talks
00:58 about the proposed acquisitions of certain companies to provide COVID-19 screening technology to the health ministry
01:05 even though the board had tentatively approved them prior to the Umar query.
01:10 It said all the five directors of Dataprep were fined for permitting the company to commit the breach.
01:16 [Music]
01:21 Kuala Lumpur Kepung or KLK acquired an additional 1.34 million Baustat Plantation shares
01:27 from the open market yesterday.
01:29 According to a Bursa Malaysia filing today, the additional shares, transacted at RM1.45 a piece,
01:36 amounted to RM1.94 million.
01:39 Coincidentally or not, the shares were acquired after Defence Minister Datuk S. Mohd Hassan last week
01:45 defended a proposed move by the Armed Forces Fund Board to offload a 33% stake in the plantation company
01:52 to KLK for RM1.15 billion.
01:56 A check on local Bursa filings revealed that KLK had put a halt in acquiring more Baustat Plantation's shares for a week.
02:03 The latest acquisition prior to this was on September 7th.
02:07 At the closing bell, KLK's shares settled 0.2% higher at RM21.52,
02:14 giving the company a market value of RM23.26 billion.
02:19 Meanwhile, Baustat Plantation's shares rose 1.4% to RM1.48, valuing the plantation company at RM3.32 billion.
02:29 [Music]
02:34 Mercury Securities Group closed at 30 cent a share on its maiden day of trading on the ACE market today
02:41 for a 20% premium over its initial public offering price of 25 cent.
02:46 The stock recorded a trading volume of 219.99 million shares and was the third most active counter on Bursa Malaysia.
02:55 Mercury is the first local stockbroker to float its shares in two decades.
03:00 Speaking to the press after the listing ceremony, its MD Qiu Xingguan emphasised the importance of digitalisation for the stockbroking industry
03:09 and said the company will continue with the digitalisation integration of its business
03:14 as it adapts and evolves with a changing technological landscape.
03:18 The group also plans to add more offerings to its trading platform,
03:22 such as robo-advisors and algorithmic trading software.
03:26 On top of that, it will look to introduce its product offerings and services beyond Malaysian shores.
03:32 [Music]
03:37 Myagi Services said it is still finalising terms of an immigration-related services concession with Putrajaya
03:45 as it confirmed it had stopped accepting applications from customers on its portal.
03:50 The group said it stopped accepting applications temporarily since September 15.
03:56 The halt will be effective until further notice to allow the finalisation of the terms of the concession with the government.
04:02 It did not elaborate on the reason it had continued to accept the applications from customers between late May and early September.
04:11 The filing also did not touch on the Home Ministry's statement on the procedure for applicants to reclaim funds
04:17 or complete the applications successfully at the Immigration Department.
04:22 Deputy Minister of Home Affairs Datuk Shamsul Anwar Nasarah had said employers whose applications are stuck at Myagi
04:30 will need to proceed to the Immigration Department to resolve these issues.
04:34 The Lenggong MP did not elaborate on the status of Myagi's contract
04:39 and the reason why its portal had remained accessible for payment.
04:43 Myagi's shares fell 0.62% to S$0.805, valuing it at S$6.02 billion.
04:50 [Music]
04:55 Former Prime Minister Tan Sri Muhyiddin Yassin will be seeking to have his three money laundering charges struck out.
05:02 His lawyer Datuk Hisyam Tepotik informed Sessions Court Judge Azra Alwi
05:07 that Muhyiddin will be filing an application to set aside the charges
05:11 and also for his bail conditions and to seek the return of his passport.
05:16 The judge then fixed November 29 for further mention.
05:20 Last month, High Court Judge Datuk Muhammad Jamil Hussein granted Muhyiddin's application
05:25 to strike out the four abuse of power charges, totaling S$232.5 million and acquitted him.
05:32 Former Attorney General Tan Sri Idrus Harun, who recently retired,
05:36 revealed in a statement that his chambers had already filed the notice of appeal against the court decision.
05:42 He also maintained that the money laundering charges against the Pagoh MP still stand
05:48 and the matter will be mentioned on September 19.
05:50 This means the course of appeal will review the High Court's decision.
05:55 [Music]