Bzzt! Wrong answers, Lay Hong

Bursa’s take: A file picture showing one of the layer farms owned by Lay Hong. Bursa says Lay Hong and its board ‘had in fact agreed and confirmed to undertake/proceed with the proposals’ before the exchange issued the two UMA queries.

Why poultry company’s responses to UMA queries led to reprimands, fines

THE recent enforcement action against Lay Hong Bhd and its directors is a striking display of the breadth of the stock exchange’s disclosure rules. It shows that listed companies and their boards must thoroughly understand what’s expected of them under the listing requirements’ corporate disclosure policy.