Pasdec fails to submit 2018 annual report by April 30

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KUALA LUMPUR (May 2): Pasdec Holdings Bhd has failed to submit its 2018 annual report for public release within the deadline of April 30, which could see Bursa Malaysia suspending trading of the company’s shares, if it does not submit the report by May 8.

The exchange said if a listed issuer fails to issue the outstanding financial statements within five market days after the expiry of the relevant timeframe, also known as the suspension deadline, the exchange will suspend trading in the issuer’s shares on the following market day.

“In view of the above and in the event that Pasdec is unable to submit the outstanding 2018 annual report on or before May 8, 2019, the trading in the above company's securities will be suspended with effect from 9am, Thursday, May 9, 2019 until further notice.

“Pursuant to Paragraph 9.28(6) of the listing rules, if a listed issuer fails to issue the outstanding financial statements within six months from the expiry of the relevant timeframes, in addition to any enforcement action that Bursa Securities may take, de-listing procedures shall be commenced against such listed issuer,” the exchange said.

Pasdec’s share price fell 1 sen or 2.56% to 38 sen today, giving the company a market capitalisation of RM152.14 million.