KUALA LUMPUR (May 26): Scan Associates Bhd's non-independent and non-executive director Yeoh Eng Kong has failed to prevent the de-listing of the Guidance Note 3 (GN3) company.

In its filing to the stock exchange today, Scan Associates said Yeoh had filed for an application to appoint a receiver and manager over the company.

He also sought an extension of time from Bursa Malaysia, or to exercise any such necessary steps, to preserve the listing status of the company.

The application was heard in the High Court today and it was dismissed with costs of RM15,500 awarded to the company, said Scan Associates.

The company said it will not be submitting an appeal against the de-listing of its securities.

The trading in the company's securities is scheduled to be suspended tomorrow, and will subsequently be de-listed on May 31.

On May 8 last year, Bursa Securities had issued a directive to Scan Associates to announce that the company had triggered rules 2.1(b) and (c) of GN3 based on the company's fourth-quarter results ended December 2014.

The company had announced on May 18 this year that it will not be applying for an extension of time from Bursa Securities to regularise its condition.

Scan Associates had said the majority of its board members have decided not to apply for an extension of time to submit its regularisation plan and uplift its GN3 status.

"In the absence of a listing status, the company can still carry out its business by taking care of the essential expenses, like payroll and statutory commitments," the company had said then.

Scan Associates has been embroiled in a boardroom tussle with Yeoh and former chief executive officer Datuk Dr Norbik Bashah Idris that began late last year.

Both Yeoh and Norbik are substantial shareholders of Scan Associates, with 7.7% and 5.9% stake respectively.