KUALA LUMPUR – TH Heavy Engineering Bhd (THHE) has submitted an appeal to Bursa Malaysia Securities Bhd on the decision by the bourse to delist THHE securities, to reconsider its decision not to grant a further time extension to submit its regularisation plan.
In a filing with Bursa Malaysia today, the Practice Note 17 (PN17) company said the further extension was for a period of nine months up to July 22, 2022.
On December 1, Bursa Securities rejected THHE’s application for a further time extension to submit its regularisation plan.
Trading in THHE’s securities was suspended from December 9, and the securities would have been delisted on December 13 unless the PN17-status company submitted an appeal by December 8.
The oil and gas industry player has received several extensions to submit its regularisation plan since slipping into PN17 status in April 2017.
It became an affected issuer after its auditors expressed a disclaimer of opinion on its audited financial statements for the financial year ended December 31, 2016.
Bursa Securities said THHE’s securities may remain deposited with Bursa Depository Sdn Bhd notwithstanding the delisting of the securities. – Bernama, December 9, 2021
