KUALA LUMPUR: Trading of oil and gas company Sumatec Resources Bhd will continue to be suspended after it failed to announce its quarterly report (QR June 2021) for June 2021 by Thursday.
Bursa Malaysia Securities, in a statement on Friday, said under the relief measures to listed issuers amid the evolving Covid-19 situation, the regulator had on June 16 2021 granted a one-month extension QR or the financial period ended June 30 2021 (QR June 2021) for public release.
However, Sumatec the failed to announce its QR June 2021 to Bursa Securities for public release by the extended timeline.
Under paragraph 9.28(5) of the Main LR, if a listed issuer fails to announce the outstanding financial statements within five market days after the expiry of the relevant timeframe as stated in paragraph 9.22(1) of the Main LR (“Relevant Timeframe”) (the last day of the 5 market day period is referred to as “Suspension Deadline”), 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.
However, since Sumatec has failed to announce the QR June 2021 on or before 7 October 2021, the trading has been suspended with effect from Friday.
Since the Company’s securities have been suspended from trading since Nov 2019 in view of the winding up crder against the Company, the suspension of trading will continue until further notice.
Bursa Securities warned if a listed issuer fails to announce the outstanding financial statements within six months from the expiry of the relevant timeframes, in addition to any enforcement action it may take, delisting procedures shall be commenced against such listed issuer.