KUALA LUMPUR (Jan 8): APFT Bhd will be delisted from Bursa Malaysia on Jan 13, after the bourse dismissed the company’s appeal for an extension of time to submit its regularisation plan for approval.

Bursa Malaysia said today that upon APFT’s delisting, the Practice Note 17 company will continue to exist, but as an unlisted entity.

“The company is still able to continue its operations and businesses and proceed with its corporate restructuring and its shareholders can still be rewarded by the company’s performance.

“However, the shareholders will be holdings shares which are no longer quoted and traded on Bursa Securities,” the bourse said.

On Monday, APFT announced it had on Dec 9 submitted an application to the stock exchange for approval for a six-month extension (until June 9, 2021) to submit its regularisation plan to relevant authorities.

In a separate filing, the company said it was unable to release its quarterly financial report for the second quarter ended Oct 31, 2020 by the deadline of Dec 31, 2020, as it was still finalising figures, pending “confirmation on the accounting treatment”.

Shares in APFT have been suspended since March 12, 2020.