Kuala Lumpur, Bursa Malaysia Securities Berhad has publicly reprimanded Smile-Link Healthcare Global Berhad for breaching the LEAP Market Listing Requirements, citing a six-month delay in the release of its audited financial statements.
The reprimand follows Smile-Link’s failure to announce its audited financial statements, along with the required reports and disclosures for the 18-month financial period ending 30 June 2024, by the 31 October 2024 deadline. The company only made the announcement on 30 April 2025.
Bursa Malaysia emphasized that timely financial reporting is a fundamental duty of all listed companies, essential to maintaining a fair and orderly market. The breach was assessed under Rule 8.12 of the LEAP Market Listing Requirements after due process, taking into account the materiality and implications of the delay.
Smile-Link’s delay stemmed from unresolved issues with its external auditors, ultimately resulting in their removal in January 2025. However, Bursa Malaysia stressed that disputes with auditors do not justify non-compliance with financial reporting obligations.
In addition to the reprimand, Smile-Link’s Board of Directors has been directed to review the adequacy and competency of its finance and accounting functions and strengthen its financial reporting policies and procedures.
Bursa Malaysia also reminded the company’s board of its responsibility to uphold corporate accountability and ensure timely and transparent disclosures to shareholders and the investing public.
