Bursa Securities has suspended trading in Serba Dinamik Holdings Bhd (Serba Dinamik) as it had failed to issue the outstanding financial statements within the stipulated time determined by Bursa.
“In view of the above and in the event that Serba Dinamik is unable to submit the outstanding annual report for financial year ended 30 June 2023 (AR 2023) on or before Nov 7, trading in the Company’s securities will be suspended with effect from 9am, Nov 8, until further notice.
“However, as the company’s securities have been suspended from trading since 18 January 2023, the suspension of trading will continue until further notice,” Bursa said.
The annual report includes annual audited financial statements together with the auditors’ and directors’ reports for the said financial year.
It said that in pursuant to paragraph 9.28(5) of the Main Market listing requirements (Main LR), if a listed issuer fails to issue the outstanding financial statements within 5 market days after the expiry of the relevant timeframe, Bursa shall suspend their trading in the securities.
“(This is) in addition to any enforcement action that Bursa Securities may take. The suspension shall be effected on the next market day after the suspension deadline,” it added.
Relevant timeframes is as stated in paragraph 9.23(1) of the Main LR or such extension of time granted by Bursa Securities while the last five days is referred to suspension deadline.
Bursa added: “Pursuant to paragraph 9.28(6) of the Main LR, if a listed issuer fails to issue the outstanding financial statements within 6 months from the expiry of the relevant timeframes, in addition to any enforcement action that Bursa Securities may take, de-listing procedures shall be commenced against them.”
