KUALA LUMPUR: Shares in Sarawak Consolidated Industries Bhd
(SCIB) tumbled over 23% in early commerce Wednesday on the chance of suspension.
The counter fell 23.46%, or 9.5 sen to 31 sen. It’s presently the third most actively traded counter on Bursa Malaysia with over 44 million shares traded.
SCIB-WB fell 29.41%, or 5 sen to 12 sen with 17 million shares performed.
Bursa Malaysia Securities has rejected SCIB’s software for an extension of time till Dec 31 to challenge its annual report for the yr ended June 30, 2021 (FY21).
SCIB stated it has appealed towards the choice to reject the request made on Oct 8.
It stated it could be unable to challenge the annual report by the due date of Oct 31, because the audited monetary statements couldn’t be finalised in time for inclusion within the report.
Beneath the inventory trade’s guidelines, listed firms should submit their audited annual monetary outcomes and annual experiences inside 4 months of their monetary yr finish.
SCIB stated it was unable to fulfill the deadline as a result of change of exterior auditor and the influence of restrictions in motion in Malaysia and abroad arising from the Covid-19 pandemic.
It stated the suspension of buying and selling of SCIB’s securities can be effected on the following market day after the expiry of 5 market days from Oct 31. The date of suspension of buying and selling might be on Nov 9.
