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Finance

Hua Yang reprimanded by Bursa Malaysia over share buyback breach

Hua Yang Bhd has been publicly reprimanded by Bursa Malaysia for buying 4.48 million of its own shares off-market for RM876,515.98, violating listing rules that require buybacks to be conducted through the exchange.

Source: The Edge Malaysia · The Star · August 20, 2026 at 6:46 PM · AI-assisted report

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Hua Yang reprimanded by Bursa Malaysia over share buyback breach
Photo: Wikimedia Commons

KUALA LUMPUR, 21 AUGUST 2026 —

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Hua Yang Bhd has been publicly reprimanded by Bursa Malaysia for buying 4.48 million of its own shares off-market for RM876,515.98, violating listing rules that require buybacks to be conducted through the exchange.

Market Impact

The property developer purchased the shares directly from a shareholder on April 22 at 19.5 sen each, breaching paragraph 12.04 of Bursa’s Main Market listing requirements. The transaction totalled 4.48 million shares, far exceeding the odd-lot threshold of fewer than 100 units that allows direct purchases under paragraph 12.26(2). Bursa said the rule ensures buybacks are transparent and prevent selective or preferential treatment of shareholders.

In a filing on Thursday, Hua Yang acknowledged the reprimand, stating that Bursa had completed due process and considered the materiality of the breach. The company added that none of its directors were found to have caused or permitted the violation, but emphasised their duty to uphold compliance with listing rules.

At the time, the board comprised chairman Tan Sri Dr Ting Chew Peh, chief executive officer Ho Wen Yan and non-executive directors Tengku Datuk Rahimah Al-Marhum Mahmud, Choo Seng Choon, Chew Hoe Soon and Ho Wen Fan.

Bursa said the requirement is fundamental to ensuring open and transparent share buybacks under Chapter 12 of the listing rules. The regulator did not impose a fine or other penalty beyond the public reprimand.

Hua Yang’s financial performance has weakened sharply. The company reported a net loss of RM4.58 million for the year ended March 31, 2026, compared with a net profit of RM6.57 million in the previous year. Revenue fell 39% to RM64.02 million from RM104.56 million. Hua Yang attributed the decline to fewer ongoing projects, delays in new launches pending regulatory approvals and compressed margins from lower economies of scale and sustained operating costs.

The company’s shares closed unchanged at 18 sen on Thursday, giving it a market capitalisation of RM79.2 million. The stock has fallen 18.2% this year.

Related: Bursa Malaysia · Kuala Lumpur

Reporting based on The Edge Malaysia · The Star. Figures and claims are subject to revision as the story develops. DomainFork publishes editorial context, not investment advice — see our editorial standards.