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Koon Yew Yin's Blog
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Stock Market Enthusiast
PBBANK: Technical Outlook Suggest Target of RM5 (Uptrend but Overbought) - KingKKK
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Koon Yew Yin's Blog
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EVD BERHAD - REDEEMABLE CONVERTIBLE PREFERENCE SHARES A 2022/2032
2024-08-28 10:00:00
EMA 5
Hourly
CS Tan
4.9 / 5.0
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
kenie
761 posts
Posted by kenie > 2019-08-05 21:32 | Report Abuse
China companies Xingquan and China Stationery to be delisted on Aug 16
KUALA LUMPUR (Aug 5): Xingquan International Sports Holdings Ltd, which just marked its 10th year on Bursa Malaysia last month, is going to be delisted in less than two weeks, together with China Stationery Ltd.
The two China-based companies is facing regulatory action after continuously failing to issue their annual reports and audited financial statements, months after the stipulated timeframe specified under the listing requirements.
Both companies are now going to be delisted on Aug 16, unless they submit an appeal to Bursa Securities by Aug 13, according to the companies' separate stock exchange filings today.
Upon delisting, the companies will continue to exist but as an unlisted entity, the market regulator noted, adding they will still be able to continue their operations and businesses and/or proceed with their corporate restructuring, and that their shareholders can still be rewarded by the companies’ performance.
“However, the shareholders will be holding shares which are no longer quoted and traded on Bursa Securities,” it wrote.
China Stationery has failed to issue its quarterly reports for the financial period ended Sept 30, 2017 until Sept 30, 2018, and its annual report for the 18 months ended June 30, 2018, for over six months from the stipulated timeframe until now.
Xingquan, on the other hand, has failed to issue its quarterly reports for its financial period ended March 31, 2017 until Sept 30, 2018; and its annual report for its financial year ended June 30, 2018, again over six months after the stipulated timeframe until now.
Trading of China Stationery shares has been suspended since Dec 5, 2017, while that of Xingquan's has been suspended since June 8, 2017.