This article first appeared in The Edge Financial Daily on November 8, 2018

KUALA LUMPUR: Trading of shares in FSBM Holdings Bhd will be suspended tomorrow if the group fails to submit its annual report for the financial period ended June 30, 2018 (FY18) by today.

“Pursuant to Paragraph 9.28 (5) of the Listing Requirements, if a listed issuer fails to issue the outstanding financial statements within five market days after the expiry of the relevant time frame, 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 regulator said in a stock exchange filing yesterday.

Bursa Securities said if the company fails to issue the outstanding financial statements within six months from the expiry of the relevant time frames, it shall commence delisting procedures against the company.

On Monday, FSBM said the release of the annual report is contingent upon proof of recoverability of certain trade and other receivables.

“Management is actively discussing and resolving the above outstanding issue with the exernal auditors in order to complete the Annual Report 2018 within the timeline of not later than two months from Oct 31, 2018,” the information technology service and systems provider said.

FSBM shares yesterday closed 5.5 sen lower to 15.5 sen, giving it a market capitalisation of RM21.9 million.