Asia

MMM executives rapped

 

Kuala Lumpur: Four Malaysian Merchant Marine Bhd (MMM) directors have been publicly reprimanded and fined a total of RM493,750 by Bursa Securities for breaching the listing requirements of Bursa Malaysia. The directors were penalised for failing to properly disclose details of failed vessel acquisitions and also for misreporting their financial statements.
 
Bursa said MMM CEO Datuk Ramesh Rajaratnam was publicly reprimanded and fined RM306,250 for his role in the breaches. MMM has been one of Malaysia’s more high profile casualties during the downturn.  [22/01/13]

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