KUALA LUMPUR (March 8): Loss-making Wintoni Group Bhd has received an extension of time till Aug 26 from Bursa Malaysia Securities to submit its regularisation plan.

In a filing to the exchange today, the Guidance Note 3 (GN3) company said Bursa still has the right to suspend the trading of its shares and de-list the company if it fails to make the requisite announcement by June 16 and fail to submit its regularisation plan by Aug 26.

Bursa can also de-list the company if it fails to obtain the approval from any of the regulatory authorities necessary for the implementation of its regularisation plan, and if it fails to implement the plan within the time frame stipulated by the authorities.

Two days ago, Wintoni announced that Techway Engineering Sdn Bhd, a supplier and contractor of engineering and technical services and products relating to renewable energy, is seeking a backdoor listing via Wintoni.

Wintoni inked a memorandum of understanding with Techway directors Lim Kuan Joo and Ismail M. Shuhud for the exercise. The parties aim to sign the definitive agreements by Sept 30.

On March 3, Wintoni, which does industrial automation systems design, announced that it could not submit its financial results for the three months ended Dec 31, 2016, which were due on Feb 28.

This led to the trading of its shares being suspended from today.

Wintoni triggered the GN3 criteria in February last year, when the shareholders' equity of the company on a consolidated basis was less than 25% of its issued and paid-up capital, based on its third quarter ended Sept 30, 2015 results.