KUALA LUMPUR (Jan 4): Practice Note 17 company APFT Bhd is unable to release its quarterly financial report for the second financial quarter ended Oct 31, 2020.

In a bourse filing, the group said it had failed to submit its latest quarterly numbers to Bursa Malaysia by Dec 31, 2020 — which was the deadline for submission, as Bursa Malaysia regulations dictate quarterly financial reports be submitted no later than two months after each quarter of a financial year.

According to APFT, the delay was due to the company finalising figures, pending “confirmation on the accounting treatment”.

“Pursuant to Paragraph 9.28(5) of the MMLR of Bursa Securities, if APFT fails to announce/issue its Quarterly Report within 5 market days from the expiry of the Timeframe (the last day of this 5 market days shall hereinafter be referred to as ‘the Suspension Deadline’), in addition to any enforcement action that Bursa Securities may take, Bursa Securities shall suspend trading in the securities of APFT,” the company said.

APFT says it will endeavour to issue its quarterly report to Bursa Malaysia by or before Jan 20.

It added that if it fails to furnish the local bourse with the quarterly report within six months from the expiry of the deadline, Bursa Malaysia may look into initiating delisting procedures against APFT.

Trading in the group’s shares has been suspended since March 12, 2020.