(SCIB) effective from Nov 9, after it failed to issue its annual report within the stipulated timeframe."Pursuant to paragraph 9.28(5) of the LR, if a listed issuer fails to issue the outstanding financial statements within 5 market days after the expiry of the relevant timeframes stated in paragraph 9.23(1) of the LR , in addition to any enforcement action that Bursa Securities may take, Bursa Securities shall suspend the trading in the securities of such listed issuer. The suspension shall be effected on the next market day after the Suspension Deadline.
"In view of the above and in the event that SCIB is unable to submit the outstanding AR 2021 on or before 8 November 2021, trading in the above Company's securities will be suspended with effect from 9.00am, Tuesday, 9 November 2021 until further notice," said Bursa in a Wednesday statement.
SCIB had said in an Oct 26 filing that it was unable to release its 2021 annual report by the deadline of Oct 31 in view of a change in external auditor and the impact of the movement restrictions in Malaysia and overseas arising from the Covid-19 pandemic.
The company had on Oct 8 sought an extension of time to issue its annual report but the request was rejected.
According to SCIB, the expected date of issuance of the outstanding annual report is Dec 31, 2021.
At 4.45pm, SCIB shares were down 0.5 sen or 2.44% to 20 sen per share on the back of 18.65 million units exhchanging hands.
