KUALA LUMPUR (Aug 11): The High Court has set aside sanctions imposed on audit firm Afrizan Tarmili Khairul Azhar (AFTAAS) by the Securities Commission Malaysia's (SC) Audit Oversight Board (AOB) for alleged non-compliance with auditing standards. The AOB had also prohibited AFTAAS and its partners from accepting new clients since Nov 25 last year.

Yesterday, High Court Justice Datuk Seri Mariana Yahya allowed the firm along with its partners Datuk Mohd Afrizan Husain, Tamili Dulah Kusni, Khairul Azahar Ariffin judicial review application against the SC's decision to sanction the firm.

In addition, Justice Mariana ordered the commission to pay RM15,000 costs to the accounting firm and directed that damages be assessed by the court.

Besides seeking to quash the SC decision in its judicial review application, the firm and three partners are also seeking a stay of all steps, acts and things done by the AOB and the SC under Part Part IIIA of the Securities Commission Malaysia Act 1993 against them until the final determination of its application.

They are also seeking a declaration that all steps, acts and things done by the AOB and the SC against them in furtherance to Findings in the Final Inspection Report dated May 31, 2019 under its powers in Part IIIA of the Securities Commission Malaysia Act 1993 are ultra vires, wrongful, null and void.

Yesterday's decision was confirmed by the firm's counsel David Matthews to theedgemarkets.com who appeared together with Sukhvinder Singh.

On Nov 25, the SC announced that AOB had prohibited the audit firm and its partners from accepting clients and auditing public interest entities or scheduled funds, for 12 months.

The partners involved are Mohd Afrizan, Tarmili and Khairul Azahar. In addition to the prohibition, the AOB imposed fines of RM455,000 on the firm, and RM88,000 each on Mohd Afrizan and Khairul Azahar respectively.

However, it is understood that they got a stay on paying the fine until the disposal of the judicial review.

The SC said the audit firm and its partners were sanctioned for several breaches involving non-compliance with auditing standards on fundamental and basic audit procedures, which affected key financial statement line items including inventories, revenue, cost of goods sold and trade receivables.

It was reported in theedgemarkets.com that several firms XiDeLang Holdings Ltd and Zelan Bhd announced last December that AFTAAS had to resign from doing an audit on those two companies as a result of the sanctions.

Meanwhile, it is understood that the SC have applied for a stay of yesterday's decision pending its proposed appeal to the Court of Appeal.

Sell underwear eat roti all in buy genm tmr wkwkk

Buy in small small 10 lot yesterday at rm3. 10
Expected to enjoy lobster soon hhah

Bye 3.1

Relax bro just buy when there was mega sales, after QR announce, genm will shoot up. Cheer
Genm still have outdoor theme park as screate weapon. Wkkk

（吉隆坡25日讯）云顶(GENTING,3182,主板消费产品服务组)旗下美国拉斯维加斯名胜世界豪砸43亿美元（约179亿6000万令吉）以提升设施，并预期在2021年夏季投运。

根据美通社(PR Newsire)引述Cision Distribution报导，拉斯维加斯名胜世界将结合传统与现代特色，具有亚洲豪华酒店的风格、领先技术及世界级的服务。

新设施包括可容纳5000人的先进剧院、7万5000平方英尺的日夜生活空间、豪华套房、别墅、顶级套房、空中赌场等。

拉斯维加斯世界总裁斯可特表示，相关团队不断完善赌场度假村，可在拉斯维加斯分享相关理念，提供更高规格的社区。

除了新娱乐场所及客房设备增强外，该度假村还配备甚多设备与设施。包括11万平方公尺赌场、4000平方公尺尺娱乐区、两座共有3500套房的大楼、7个泳池，合计达22万平方公尺、10万平方公尺发光二极体（LED）荧幕等，以及米其林餐厅及街头美食。

拉斯维加斯名胜世界由云顶负发展，在美国、大马、新加坡、英国和巴哈马都有联号综合渡假名胜。

Going to mega sales again? Lol

Done sold all at 1.89 kakaka will buy back when hit 1.7

Any good news on hektar?

Aa will bring you fly

2020 will issue digital banking license

Sound like genm will fly in coming monday

Is time to fly woohooo

Bloody red sea tday

Tp 2 to 2.2 enjoy ur long waiting journey

Any good new on genm? Why this few days genm perform so nice.

Tday airasia wanna fly

Keep collect!!

If LKT annouce somthing good at this moment, genm will fly.

Later tonite can jio frn go hatyai find amoi

Insider heard somthing i think..

Genm lai liao lobster day

Gooshen sin kar la you

If can break 3.25, tmr will shoot high.

All in done yesterday, left underwear nw.
Cheers

Discount end, buy till left underwear huhu

Please sell more, i wan to collect at discount price =D

Kok tai wan to earn lobster dinner also, he will announce somthing good soon

I see discount i top up, Will top up when 3, huhuhu

Tp 3.9

Buy at 3.53, thx genm for lobster dinner

When is next QR announce?

Tday AA also very cham haha

What that stupid trump did?

Is time to collect lobster

Today public holiday bro

Tday showtime start so early haha

Another good show at 4-5pm.

InvestsucessTrader, Good move

Tp 4.39 woohooo

Aiyaya can go thailand goyang again lo haha

Very strong support at 3.66

Tp 4.39

Ez money hahaha