Securities: Embarrassment over similarity in company names
When Malaysia's Securities Commission imposed conditions on the activities of SJ Asset Management, an unrelated company, SJ Securities began to get calls from worried clients.
The Securities Commission, local media reports say, imposed conditions on SJ Asset Management due to concerns over the integrity of its records and possible inaccuracies relating to clients' assets.
The SC issued a statement that it has appointed independent auditors to "examine, audit and report on SJ Asset Managements books, accounts and records including as to assets held."
But SJ Securities said that it had been receiving calls from confused clients and connections.
SJ Securities has issued a statement saying that the two entities are not in any way connected, have no common shareholders and no common directors.
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