Friday 29 Mar 2024
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KUALA LUMPUR (Sept 26): Shares in Sumatec Resources Bhd fell 14.29% this morning after nine of its directors were summoned by Bursa Malaysia to attend a training programme for the company’s failure to undertake a proper assessment of its financial accounts which resulted in a large variance of 326.6% between its unaudited and audited figures.

At 9.40am, Sumatec fell 0.5 sen to 3 sen with 830,000 shares done.

The regulator said while it has not found any of Sumatec’s directors to have caused or permitted the breach by the company, it is their duty to maintain appropriate standards of responsibility and accountability so as to ensure compliance to the Main Market listing requirements.

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