KUALA LUMPUR: Food and beverage company Oasis Harvest Corporation Bhd acknowledges Bursa Malaysia Securities' reprimand over the terminated 2023 rights issue, which preceded its rebranding from Dolphin International Bhd
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In a statement today, Oasis reaffirmed its commitment to strong corporate governance, transparency, and its ongoing efforts to enhance shareholder value.
"The rights issue, announced by Dolphin International in May 2023 under the previous management, led to significant changes within the company.
"A newly appointed board has since strengthened internal controls and governance frameworks to ensure all future corporate exercises align with best practices and prioritise shareholder interests,” it said.
Since rebranding in July 2024, Oasis has undertaken strategic initiatives to bolster its financial position and recover from past challenges.
Among these, the company has pursued legal and financial measures to seek compensation related to the acquisition of High Reserve F&B Sdn Bhd.
"Additionally, Oasis successfully raised equity funds through a private placement exercise, supporting business expansion and operational improvements.
"These efforts have contributed to a turnaround in financial performance, as reflected in the latest results,” it said.
Oasis executive director Ch’ng Eu Vern said the company fully respects regulatory compliance and has taken decisive steps to strengthen corporate governance, ensuring greater transparency, accountability, and responsibility in decision-making.
"Oasis today is fundamentally different from its past structure, and our focus is firmly on sustainable growth. With a revitalised strategy, a strong governance framework, and successful capital-raising efforts, we are well-positioned to build momentum and deliver value to shareholders,” he added.
For the three months ended Dec 31, 2024, Oasis reported RM4.34 million in revenue and RM1.83 million in profit attributable to ordinary equity holders, representing an increase of RM0.71 million and RM2.87 million, respectively, from a year earlier. Bernama
