Friday 29 Mar 2024
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KUALA LUMPUR (Sept 5): Troubled China Automobile Parts Holdings Ltd (CAP) said it has failed to submit its financial report for the second quarter ended June 30, 2017 (2QFY17) to Bursa Securities for public release within the stipulated timeframe.

This marks the second consecutive quarter that CAP did not submit its financial report. CAP shares have been suspended from trading since June 8 after it failed to release its 1QFY17 report by May 31.

"As the company's shares have been suspended from trading since June 8, the trading suspension of CAP will continue until further notice," said CAP in a filing with Bursa Malaysia today.

Bursa had on June 16 directed CAP to have its outstanding quarterly report for 1QFY17 reviewed by its external auditor after its auditor PKF Malaysia Sdn Bhd withdrew its opinion on the company's audited accounts for the financial year ended Dec 31, 2015 (FY15), citing failure by CAP to disclose several litigation cases involving a subsidiary.

The auditor also raised concerns in respect of CAP's FY16 financial statement.

On July 14, CAP was also directed to reissue its audited financial statements for FY15 by Jan 4, 2018, failing which Bursa will commence de-listing procedures against CAP.

The counter was last traded at one sen apiece, giving the loss-making company a market capitalisation of RM13.62 million.

 

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