KUALA LUMPUR (Nov 1): Scomi Energy Services Bhd's share price fell as much as 2.5 sen or 28% to 6.5 sen in morning trades today after the company said yesterday it triggered Bursa Malaysia's Practice Note 17 (PN17) listing requirements.
Yesterday, Scomi Energy said in separate Bursa filings its external auditor KPMG PLT expressed material uncertainty on Scomi Energy as a going concern.
"The external auditors of the company, Messrs KPMG PLT, have expressed material uncertainty related to the going concern of Scomi Energy in the audited financial statements for the financial year ended June 30, 2019 of Scomi Energy and the shareholders' equity of Scomi Energy on a consolidated basis is 50% or less of its issued share capital calculated based on the audited financial results of Scomi Energy as at June 30, 2019.
"We wish to inform that the company will submit an application for a waiver from being classified as an affected listed issuer to Bursa. We will make the necessary announcement on further development in accordance with the requirements under the listing requirements," Scomi Energy said.
At 10:04am today, Scomi Energy shares were traded at 6.5 sen with some 21 million units traded.
Scomi Energy was transacted among Bursa's top-active stocks.