KUALA LUMPUR (July 30): Bursa Securities has publicly reprimanded and imposed a RM30,000 fine on Lim Yin Chow, a former non-executive director of Stemlife Bhd, Signature International Bhd and Rev Asia Bhd for providing false statements pertaining to his qualification.

In a statement today, Bursa said Lim had submitted and/or caused the three listed companies to submit inaccurate and false or misleading statements pertaining to his qualification as a holder of degree of Bachelor of Medicine and Bachelor of Surgery (MBBS degree) at the University of Hong Kong in 1992 in various announcements and annual reports of the companies.

However, arising from a complaint to Bursa and upon investigation, the University of Hong Kong had confirmed to the stock market regulator that Lim was not its graduate and it had not issued a graduation certificate to Lim for the MBBS degree.

Lim has since resigned as a director of Stemlife on Sept 28, 2009 and Signature and Rev Asia on Jan 10, 2014.

Bursa said the public reprimand and fine was imposed on Lim for breaches of paragraphs / Rules 2.18(1)(a) and (c) and 16.13(a) of the Bursa listing requirements. 

Bursa also said no enforcement action was taken against the three companies in light of, among others, the companies’ representations that the information made in the relevant announcements and annual reports were premised on confirmation and representations made by Lim as well as verification or assessment by the relevant companies from, among others, the online medical register of Malaysia Medical Council.