Sumatec’s suspension to continue, Bursa Securities says

TheStar Thu, Dec 03, 2020 11:06am - 2 months ago

Sumatec’s last traded price was 0.5 sen when it was suspended on Nov 7, 2019.

KUALA LUMPUR: Trading in the shares of Sumatec Resources Bhd will continue to be suspended after it failed to submit its third quarterly report for the period ended Sept 30, Bursa Malaysia Securities said.

Sumatec’s last traded price was 0.5 sen when it was suspended on Nov 7,2019.

The regulator said the oil and gas related company had failed to submit the report within the stipulated timeframe under the Main Market Listing Requirements.

If the company fails to issue the outstanding financial statements within five market days after the expiry of the relevant timeframe, in addition to any enforcement action that Bursa Securities may take, Bursa Securities shall suspend the trading in the securities of such listed issuer.

Under the listing requirements, as Sumatec was unable to submit the third quarterly report 2020 on or before Dec 7, trading in the securities will be suspended with effect from 9am the next day.

“However, as the company's securities have been suspended from trading since Nov 7,2019 in view of the winding up order against the company, the suspension of trading will continue until further notice, ” it said.

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