Sumatec misses deadline to submit quarterly report, share trade suspension continues

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KUALA LUMPUR (Dec 3): Sumatec Resources Bhd has missed the deadline to submit its quarterly report for the financial period ended Sept 30, 2019 (3QFY19).

In a bourse filing today, Sumatec said in the event it is unable to submit its 3QFY19 report on or before Dec 6, trading in its securities will be suspended from 9am on Monday, Dec 9.

However, Sumatec said as its securities have been suspended from trading since Nov 7 following a winding up order against the company, the suspension of trading will continue until further notice.

Sumatec slipped into PN17 status in April 2018 when its external auditors Messrs Grant Thornton Malaysia expressed a disclaimer of opinion on the company's audited financial statements for the financial year ended Dec 31, 2017.

The group received a petition last August from its bondholders demanding payment of RM83.31 million from three collateralised loans they had extended to Sumatec.

Under Bursa Malaysia Securities' Main Listing Requirements, 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, delisting procedures shall be commenced against such listed issuer.