KUALA LUMPUR (May 2): Multi Sports Holdings Ltd said it expects to issue its outstanding quarterly reports for the quarter ended June 30, 2016, Sept 30, 2016 and Dec 31, 2016 and annual report for 2015, by June 30.

The release of the annual report for the year ended Dec 31, 2015 (FY15) was delayed, due to certain matters highlighted by its auditors Messrs RT LLP.

“The board will make further announcement to Bursa Securities on the development of the matter in due course,” it said in a filing with Bursa Malaysia today.

The company had on April 25 last year, announced it was unable to issue its annual report for 2015 due to additional works to be performed by its auditors to verify expenditure incurred and bank balances.

The company had initially planned to submit its annual report no later than two months from April 30, 2016. However, the company failed to meet the deadline and saw its shares suspended from trading starting May 10, 2016.

Trading in Multi Sports’ shares is still suspended to date. The stock was last traded at 3.5 sen, giving it a market capitalisation of RM21.24 million.

On Feb 13, the company said its board had received details of alleged unreported finance transactions and litigation involving its subsidiary in China, Jinjiang Baixing Shoe Materials Ltd, and the senior management of the company.

“Should the allegations be validated, such information would be material and would need to be incorporated into the outstanding annual report,” it said.