Listed companies should disclose law breaches
FocusM | 09 Aug 2019 00:30
On Aug 1, two listed companies were fined by the Sessions Court in Ipoh for negligence relating to safety at work.
Lysaght Galvanized Steel Bhd was fined RM35,000 when it pleaded guilty to negligence which caused the death of a contractor. United Plantations Bhd was fined RM15,000 when it pleaded guilty to failing to ensure the safety of a worker who severed his middle finger.
In the case of Lysaght, the accident occurred on April 22 while for United Plantations, it happened on Feb 21. Could Lysaght have disclosed the accident during its AGM on June 19 or when announcing its quarterly report on May 15? Similarly, couldn’t United Plantations have done so in its quarterly report on July 29?
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