KUALA LUMPUR – The Securities Commission has directed Quantum Metal Exchange Inc (QMEI) founder and director Datuk Lim Khong Soon @ Lim Hock Seng to immediately cease and desist the offering of the company’s shares to the Malaysian public.
The regulator said the cease-and-desist directive was issued following SC’s findings that QMEI was offering its shares to the Malaysian public, including via the Quantum Metal Sdn Bhd’s (QMSB) website or platform to QMSB members.
“The QMEI share offering, which is currently ongoing, contravenes the relevant requirements under securities laws.
“This was carried out without seeking recognition and registering a disclosure document with the SC, which is in contravention of Section 212(5) of the Capital Markets & Services Act 2007,” it said in a statement today.Consequently, the SC has also placed QMEI with its relevant details on the SC’s Investor Alert List http://www.sc.com.my/investor-alert. – March 24, 2024