KUALA LUMPUR (April 14): Golden Plus Holdings Bhd will finally be removed from Bursa Malaysia beginning next Tuesday (April 19), after nearly seven years of being suspended from trading for failure of issuing its financials on time for at least five financial years.

In addition, Bursa Malaysia reprimanded and fined 10 of the property developer and construction firm’s past and current directors a total of RM3.25 million for violating the main listing requirements.

“The decision was made after consideration of all facts and circumstances and evidence procured, including arising from the enforcement proceedings against Golden Plus and its directors for failure to ensure timely announcement/issuance of the outstanding financial statements, and in view that there was no certainty as to when and whether Golden Plus would announce/issue these outstanding financial statements,” Bursa said in a filing today.

“In the circumstances, the securities of Golden Plus will be removed from the official list of Bursa Securities on Tuesday, April 19, 2016.”

Apart from the failure of announcing its financial statements, Bursa Malaysia reprimanded Golden Plus for inaccurate disclosure of in its annual audited accounts for FY08 and FY09, failure of making immediate disclosures of material information and recurring related party transactions.

The list of former directors given public reprimand and fines are as follows:

    Datuk Abdul Halim Abdul Rauf (fine of RM132,400)

    Goh Sin Tien (RM784,000)

    Datuk Yahaya Udin (RM65,000)

    Datuk Jeyaraj LV Ratnaswamy (RM239,200)

    Yeoh Hor San (RM298,400)

    Lee Chan Vun @ Lee Kon Vun (RM199,400)

    Lim Jit Hui @ Albert Lim (RM136,600)

Directors currently serving Golden Plus board who were given the reprimand and were penalised are:

    Tan Say Han (RM643,800)

    Mohd Salleh Lamsin (RM514,000)

    Adey Liun (RM235,600)