KUALA LUMPUR (March 4): On its first day back to trading, after over four years of its securities being suspended, automobile chassis components manufacturer China Automobile Parts Holdings Ltd’s (CAP) shares settled one sen or 100% higher to close at two sen.

The China-based company’s shares were the third most actively traded counter on the bourse, with some 94.14 million shares exchanging hands. 

In a filing on Tuesday (March 1), CAP said its shares were to resume trading on Friday (March 4), after it had submitted its annual reports for the financial years ended June 30, 2017 (FY17) until FY21 on Feb 25 this year.

“In view of the above and there is no other outstanding financial statements due from the company, please be advised that trading in the company’s shares will resume with effect from 9.00am, Friday, March 4, 2022,” it said.

On June 8, 2017, the company’s securities had been suspended from trading, owing to its failure to submit its financial reports within the stipulated time.

Additionally, CAP was slated to be de-listed from Bursa Malaysia on Dec 27, 2021, after the bourse operator commenced de-listing procedures against it on Dec 15 last year, due to its aforementioned failure to issue annual reports for FY17 until FY20.

However, the company’s de-listing was deferred after it submitted an appeal within the appeal time frame.

Subsequently, in a filing on Thursday (March 3), CAP said Bursa Malaysia has allowed the appeal against its de-listing, in view of the company’s submission of the outstanding annual reports.

“After due consideration of all facts and circumstances of the matter including the fact that the company had on Feb 25, 2022 issued the annual report for FY21 that included the audited financial statements for FY17 to FY21, Bursa Malaysia has decided to allow the appeal and not to de-list the company, pursuant to paragraphs 9.28(6) and 16.11(1)(b) of Bursa Malaysia's Main Market Listing Requirements,” the filing read.