KUALA LUMPUR (Sept 14): Polymer Link Holdings Bhd expects its proposed delisting from the Leading Entrepreneur Accelerator Platform (LEAP) Market to be completed by the fourth quarter of this year.

In a filing with Bursa Malaysia, it said the proposed withdrawal is conditional upon the approvals from the company’s shareholders at an extraordinary general meeting as well as the stock exchange regulator.

On Aug 19, Polymer Link told the exchange that the rationale behind the proposed withdrawal was to streamline its business operations and subsidiaries.

These include restructuring of the entities within the group in implementing strategies to realise its long-term growth potential.

It said the board of directors is cognisant of the liquidity of the shares that have been at a relatively low level over a prolonged period of time since the company’s listing on the LEAP Market.

“The board of directors is of the view that such low liquidity would hinder the company’s ability to raise additional funds from the public equity market, which no longer serves as a viable source of funding for developing the group’s business,” it said.