KUALA LUMPUR, July 30. 2015:
Marking yet another local first, Bursa Malaysia Securities Bhd has publicly reprimanded and imposed a RM30,000 fine on a former non-executive director at several listed firms for lying about his university degree.
Bursa has found Lim Yin Chow – a former non-executive director of Stemlife Bhd, Signature International Bhd and Rev Asia Bhd – had submitted and/or caused inaccurate and false/misleading statements pertaining to his qualification as a holder of degree of Bachelor of Medicine and Bachelor of Surgery at the University of Hong Kong in 1992 in various announcements and annual reports of the companies.
“Arising from a complaint to Bursa Securities and upon investigation, the University of Hong Kong had confirmed to Bursa Malaysia Securities that Lim was not its graduate and it had not issued a graduation certificate to him for the degree,” Bursa said in a statement today.
Lim was found to have breached Rules 2.18(1)(a) and (c) and 16.13(a) of the Bursa Malaysia Securities Main Market Listing Requirements / ACE Market Listing Requirements.
Lim had since resigned as a director of Stemlife on Sept 28, 2009 and Signature International and Rev Asia on Jan 10, 2014.