Bursa Malaysia Securities publicly reprimanded Toyo Ventures Holdings Bhd on Thursday for withdrawing a proposed dividend payment in January 2022.
The agreement refers to the Song Hau 2 thermal power plant located at Song Hau Power Generation Center, Hau Giang Province, Vietnam. Earlier on March 1, ToyoVen announced it entered into a contract agreement with an unincorporated consortium comprising Sunway Construction Sdn Bhd and PECC2 for the construction of the same plant in Vietnam.
In the filing, Bursa Securities noted that ToyoVen had on Nov 30, 2021 proposed a single-tier dividend for its financial year ended Sept 30, 2021. It subsequently withdrew it on Jan 31, 2022 in contravention of Bursa Malaysia Securities Main Market Listing Requirements.
Source: News Formal (newsformal.com)
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