KUALA LUMPUR: Sarawak Consolidated Industries Bhd
mentioned it will not be capable of meet the month-end deadline to submit its audited monetary assertion and annual report for 12 months ended June 30, 2021.
The corporate had on Oct 8 utilized to Bursa Securities for an extension of time till the top of the 12 months.
The applying was rejected by the inventory trade operator on Monday.
Beneath the inventory trade’s guidelines, listed corporations should submit their audited annual monetary outcomes and annual stories inside 4 months of their monetary 12 months finish.
“We had on Oct 25 submitted an enchantment to Bursa Securities and this announcement is topic to the approval of the enchantment,” SCIB mentioned in a submitting right this moment.
SCIB mentioned it was unable to satisfy 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.
SCIB’s earlier auditor KPMG resigned in late July and was changed by Nexia in mid-August.
“Within the gentle of accredited requirements on accounting and auditing, the Firm opined that the auditor ought to be given enough time to carry out their statutory obligations with out interference and time constraints to make sure audit works might be performed successfully and sufficiently,” SCIB mentioned right this moment.
“The auditor has acknowledged of their audit plans that the audited monetary assertion can solely be finalised in December 2021,” it added.
Because the outcome. shares in SCIB are liable to being suspended from buying and selling 5 days after the deadline has handed.
Regardless of the “dilemma circumstances,” SCIB mentioned it “has determined to uphold the compliances with the accredited auditing and accounting requirements by permitting the auditor to carry out their duties with out interference and time constraints.”
“The Firm will work with its exterior auditor to expedite the finalisation of audit of the AFS 2021 and to situation the Annual Report 2021 as quickly as potential earlier than the top of December 2021,” it mentioned.
“The anticipated date of issuance of the excellent Annual Report 2021 is Dec 31, 2021,” it added.
Shares in SCIB fell 2 sen to 40 sen on Tuesday.
On Monday, Serba Dinamik Holdings Bhd, which additionally appointed Nexia in August after auditor KPMG resigned, was given an additional one month by the Bursa Securities to submit its audited books.
