South Malaysia Industries Bhd (SMI), which has filed a judicial review application to compel the Securities Commission Malaysia (SC) to hold a hearing on its complaint and come up with an official decision, said on Tuesday that the regulator had contended that its decision is not open to a review application under industry regulations.
SMI revealed that the SC, in its letter to the group in December last year, “categorically” stated that its findings “do not amount to decision of the SC that is open to a review application pursuant to Section 364 of the CMSA (Capital Markets and Services Act 2007)”.
TheEdge19 Mar, 2024 17:19pm - 1 month