Friday 29 Mar 2024
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KUALA LUMPUR (Jan 27): Toyo Ventures Holdings Bhd (TVHB) saw its share price fell as much as 32 sen or 27.83% to 83 sen on Thursday (Jan 27) morning after it said it was unable to submit its annual report on time.

At 11.20am, the counter, which was among the top losers, pared some losses at 89 sen, still down 26 sen or 22.61%.

TVHB told a bourse filing on Wednesday that it was unable to release its annual report for the financial period ended Sept 30, 2021 (FY21) by the deadline of Jan 31 as it needed additional time to resolve outstanding issues.

It said the company will endeavour to issue its Annual Report 2021 to Bursa Securities and shareholders not later than one month from Jan 31, 2022.

“The company is working closely with the external auditors to expedite the completion of the Annual Report 2021 as soon as possible before the end of February 2022,” it said.

It added that pursuant to Paragraph 9.28(5) of the Main Market Listing Requirements, if TVHB fails to issue its Annual Report 2021 within five market days from the expiry of the timeframe, Bursa Securities shall suspend trading in the securities of TVHB.

The date of suspension of trading will be effected on Feb 10, 2022 and will be uplifted on the market day following the issuance of the Annual Report 2021, the filing said.

It also noted that if TVHB fails to issue the Annual Report 2021 within six months from the expiry of the timeframe, de-listing procedures shall be commenced against the company.

Edited ByJoyce Goh
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