KUALA LUMPUR (Feb 14): Anzo Holdings Bhd, which has been classified as an affected listed issuer, has been granted a further extension until April 30 to submit its regularisation plan to the relevant authorities.

The extension is subject to the appointment of a principal adviser by the loss-making integrated contractor and timber service provider by March.

In the meantime, trading in Anzo shares will be suspended from Feb 21, the group said in a bourse filing.

Bursa Securities said Anzo faced delisting if it fails to submit its regularisation plan within the extended timeframe, or fails to obtain approval and implement the plan within a timeframe stipulated by the authorities.

Last year, Anzo was granted a six-month extension to submit its regularisation plan, from April 10 to Oct 31.  

On Oct 31, the group applied for a further six-month extension until April 30 this year to submit the plan.

Anzo was classified as an affected listed issuer in October 2019, after its revenue on a consolidated basis represented 5% or less than its share capital based on the unaudited financial statements for the financial year ended July 31, 2019.

More recently, the group reported a higher net loss of RM27.71 million for the year ended Sept 30, 2022, compared with RM24.33 million a year prior, while revenue declined to RM23.03 million from RM29.96 million.

The FY2022 revenue of RM23.03 million represented 14.71% of its share capital of RM156.57 million for that year. Anzo has been in the red since FY2013.

Shares in Anzo finished half a sen or 33.33% higher at two sen on Tuesday (Feb 14), giving the group a market capitalisation of RM22.32 million.