KUALA LUMPUR (May 3): FSBM Holdings Bhd, an information technology service and systems provider, has received notice from Bursa Securities to give its reasons within five market days as to why it should not be delisted from Bursa Malaysia after failing to issue the group’s annual report for the financial year ended June 30, 2018 (FY18).

It was supposed to issue its 2018 annual report by April 30.

This is in addition to any enforcement action that the regulator may take against FSBM.

In a filing with Bursa Malaysia today, FSBM said it is required to make written representations to Bursa within the five market days.   

"In the event Bursa having considered all the relevant facts and circumstances of the case including all representations made by FSBM, makes a determination to proceed with the de-listing, the securities of FSBM will be removed upon the expiry of seven market days from the date of notification of the decision to de-list the company unless an appeal is made within the prescribed timeframe," it added.

On April 30, FBSM announced that its annual report was still not ready for issuance and submission to Bursa and shareholders as the outstanding issues relating to the recoverability of certain trade and other receivables have not been resolved to-date.

Trading in FSBM securities has been suspended since Nov 9, 2018.