Nakamichi Corp director resigns in protest of public reprimand

This article first appeared in The Edge Financial Daily, on August 17, 2017.
-A +A

KUALA LUMPUR: Practice Note 17 company Nakamichi Corp Bhd executive director Darren Solomon Low Jun Ket has resigned as a protest to a public reprimand by Bursa Malaysia Securities Bhd.

The company announced the resignation of Low, 29, in a filing yesterday.

To recap, Bursa Malaysia had publicly reprimanded Nakamichi and four directors who were also fined a total of RM545,600, for breaches of the Main Market listing requirements.

Low and independent non-executive directors Goh Tai Wai and Mak Siew Wei were fined RM99,200 each, while Nakamichi chairman See Thoo Chan was fined RM248,000.

The warning was due to the company's failure in issuing the financial documents by Sept 18, 2015.

See was primarily responsible for the financial management of Nakamichi while Low was in charge of its day-to-day operations. Meanwhile, Goh and Mak were responsible for reviewing the group's financial statements.

Low was appointed to the board of Nakamichi in March 2013. He was previously the business development executive of Compugates Sabah Sdn Bhd and an executive director of MTouche Technologies Bhd.