KUALA LUMPUR, Nov 3 — Scomi Group Bhd is facing a potential suspension in the trading of its securities following its failure to issue its annual report for the financial year ended June 30, 2020, to Bursa Malaysia Securities Bhd for public release within the stipulated timeframe.
“In the event that Scomi is unable to submit the outstanding 2020 annual report on or before November 6, 2020, trading in the company’s securities will be suspended with effect from 9am Monday, November 9, until further notice,” Bursa Securities said in a statement today.
Under the Main Market listing requirements, if a listed company fails to issue its outstanding financial statements within five market days after the expiry of the timeframe (in Scomi Group’s case, on October 31), Bursa Securities will suspend the trading in its securities on the next market day after the suspension deadline.
Scomi Group, which is a Practice Note 17 company, will also face a delisting if it fails to issue the outstanding financial statements within stradinix months from the expiry of the relevant time frames.
At lunch break, Scomi Group’s share price was unchanged at 2.5 sen with 415,00 shares transacted. — Bernama
