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4 August 2023. KUALA LUMPUR, Malaysia.

The limited review must be performed by the company’s external auditors for four quarterly reports commencing no later from the quarterly report for the financial period ended (FPE) 30 September 2023.

Bursa Malaysia Securities Berhad [Registration No.: 200301033577 (635998-W)] (Bursa Malaysia Securities) has publicly reprimanded Eksons Corporation Berhad (EKSONS) for breach of paragraph 9.35A(1)(a) of the Main Market Listing Requirements (Main LR) for failing to ensure that the company’s fourth quarterly report for the financial year ended (FYE) 31 March 2022 (QR March 2022) announced on 30 May 2022 took into account the adjustments stated in the company’s announcement dated 29 July 2022 (Adjustments).

EKSONS was also required to carry out a limited review of the company’s quarterly report submissions. The limited review must be performed by the company’s external auditors for four quarterly reports commencing no later from the quarterly report for the financial period ended (FPE) 30 September 2023. In addition, EKSONS must review and assess the adequacy and effectiveness of its financial reporting.

While Bursa Malaysia Securities had not found any of EKSONS’ directors to have caused or permitted the breach by the company, Bursa Malaysia Securities wishes to highlight and remind that it is the duty of the directors to maintain appropriate standards of responsibility and accountability in ensuring compliance of the Main LR. The Board of Directors of EKSONS at the material time of the announcement of the QR March 2022 was as follows:-

(a) Tan Sri Datuk Amar (Dr) Haji Abdul Aziz bin Dato Haji Hussain

(b) Tay Hua Sin

(c) Dato’ Philip Chan Hon Keong

(d) Nik A. Majid bin Mohd. Kamil

(e) Hew Mei Ying

The finding of breach and imposition of the above penalty on EKSONS was made pursuant to paragraph 16.19(1) of the Main LR upon completion of due process after taking into consideration all facts and circumstances of the matter including the materiality of the breach and impact of the breach to EKSONS and its shareholders/investors and the fact that EKSONS had previously committed a similar breach in respect of the company’s announcement of its fourth quarterly report for the FPE 31 December 2014 which was subsequently amended on 28 May 2015.

Bursa Malaysia Securities views the breach seriously as the requirement for listed companies to submit financial statements that are factual, clear, unambiguous, accurate, succinct and contains sufficient information to enable investors to make informed decisions are fundamental obligations of listed companies and of paramount importance in ensuring an orderly and fair market for the securities traded on Bursa Malaysia Securities and necessary to aid informed investment decisions.


EKSONS had reported an unaudited loss attributable to owners of the company of RM10,206,000 in the QR March 2022 announced on 30 May 2022. However, EKSONS had subsequently reported an audited loss attributable to owners of the company of RM15,448,000 in the audited financial statements for the FYE 31 March 2022 (AFS 2022) announced on 29 July 2022 which represented a difference of RM5,242,000 between the QR March 2022 and AFS 2022.

The deviation was mainly due to the following –

• the QR March 2022 omitted an additional investment sum made in securities amounting to RM10.7 million, which was not accounted for as an unrealised loss in investment arising from an accounting error by the company; and

• the reduction in impairment for the inventories held by the company by RM7.1 million from the RM9.5 million provided in the QR March 2022, based on the valuation performed by a professional valuer subsequent to the issuance of the QR March 2022.

- End -

About Bursa Malaysia

Bursa Malaysia is an exchange holding company incorporated in 1976 and listed in 2005, and has grown to be one of the largest bourses in ASEAN today. Bursa Malaysia operates and regulates a fully-integrated exchange offering a comprehensive range of exchange-related facilities, and is committed to Creating Opportunities, Growing Value. Learn more at

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Ashraff Taharem

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Lailatul Fitriyah

DID: +603 2034 7280 +6011 2324 0230


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