KUALA LUMPUR (June 30): XingQuan International Sports Holdings Ltd, which faces a trading suspension after it failed to submit its quarterly financial results on time, said it will once again miss its submission deadline as it has not found the right candidates to fill its vacant top corporate roles.

In a filing with Bursa Malaysia, XingQuan said it failed to secure a suitable candidate to fill the vacancy of chief financial officer (CFO) this month. Therefore, it is unable to complete the preparation of its third quarterly financial report by mid-July.

On June 5, XingQuan clarified that it failed to issue the results due to the expiry of the employment contract of its CFO on April 30, and the sudden resignation of its independent director Tan Eng Choon on May 29, who was also the chairman of the audit committee.

It had also said that it hoped to fill the vacancies within June and issue the outstanding report by mid-July.

“The company is still sourcing for suitable candidates to fill the vacancies of the CFO and independent director and hopes to be able to fill the vacancies soonest possible,” XingQuan said.