In his judgment, judge Mohd Nazlan Mohd Ghazali pointed out that an offence of furnishing misleading information to the stock exchange is serious in nature. The creation of fictitious revenue can take place in companies even prior to being listed on the stock exchange, and at times, continuing post-listing. The directors were charged with furnishing false statements to the stock exchange, as well as for making false statements in the prospectus. The senior financial executive was charged with abetting the directors in the submission of the quarterly financial statements to the stock exchange. In public markets, the veracity of financial information is key in empowering investors to make informed investment decisions.

Source: The Edge Markets August 07, 2021 03:22 UTC