KUALA LUMPUR (Jan 9): Ace market-listed SMRT Holdings Bhd has aborted a plan to transfer its listing to the main market of Bursa Malaysia. 

Meanwhile, the company's securities will be suspended from trading on Monday, Jan 12, 2015, pending a material announcement.

In a filing with the local bourse today, SMRT, which specialises on human resource software solutions, said the company had decided to withdraw its application to transfer to the main market, which was submitted to the Securities Commission on Aug 14, 2014.

The company had also obtained approval from Bursa on its request for the trading suspension on Monday, in view that it intends to hold a press conference and make a material announcement on a transaction, it said in a separate filing.

To recap, SMRT had earlier stated it will make further announcements on the developmen,t pertaining to its proposed acquisition of a 32.9% stake in Masterskill Education Group Bhd from the latter’s major shareholder and executive director Siva Kumar Jeyapalan.

SMRT had received an extension of time from Dec 24, 2014, up to today (Jan 9, 2015) from Masterskill, to conduct its due diligence on the education provider.