Saturday 04 May 2024
By
main news image

KUALA LUMPUR (May 20): Trading of shares in rice and sago sticks manufacturer Eka Noodles Bhd will be suspended from May 31, after Bursa Malaysia Securities rejected its application for a further extension of time to submit its revised proposed regularisation plan.

Bursa Securities felt the company had not demonstrated to its satisfaction any material development towards the finalisation and submission of the regularisation plan to the regulatory authorities, Eka Noodles said in a filing today.

Following the suspension, Eka Noodles will be delisted on June 2, unless an appeal against the delisting is submitted before May 28.

"In the event the company submits an appeal to Bursa Securities within the appeal time frame, the delisting of the securities of the company from the official list of Bursa Securities on June 2 will be deferred pending the decision on the company's appeal," the filing read.

In the event of delisting, Eka Noodles will continue to exist but as an unlisted entity.

Eka Noodles shares closed unchanged at 5.5 sen, giving the group a market value of RM15.73 million. The counter saw 930,100 shares traded.

Edited ByS Kanagaraju
      Print
      Text Size
      Share