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Announcements



Announcements


FSBM Holdings Berhad ("FSBM" Or "The Company") Status Of The Issuance Of Annual Report In Respect Of The Financial Year Ended 30 June 2018 Pursuant To Paragraph 9.28(4)(b) Of The Main Market Listing Requirements ("MMLR") Of Bursa Malaysia Securities Berhad ("Bursa Securities")

BackOct 30, 2019
Type Announcement
Subject OTHERS
Description FSBM HOLDINGS BERHAD ("FSBM" OR "THE COMPANY")
Status of the issuance of Annual Report in respect of the financial year ended 30 June 2018 pursuant to Paragraph 9.28(4)(b) of the Main Market Listing Requirements ("MMLR") of Bursa Malaysia Securities Berhad ("Bursa Securities")

Reference is made to the announcements dated 31 October 2018, 5 November 2018, 29 November 2018, 28 December 2018, 30 January 2019, 27 February 2019, 29 March 2019, 30 April 2019, 3 May 2019, 8 May 2019, 31 May 2019, 28 June 2019, 29 July 2019, 9 August 2019, 30 August 2019, 27 September 2019 and 22 October 2019.

 

The Board of Directors of FSBM Holdings Berhad (“FSBM” or “the Company”) hereby announces that the Annual Report that includes the annual audited financial statements together with the auditors’ and directors’ reports of the Company in respect of the financial year ended 30 June 2018 (“Outstanding Financial Statements/Annual Report 2018”) are not ready for issuance and submission to Bursa Malaysia Securities Berhad (“Bursa Securities”) by 30 October 2019 as the Company is unable to complete the Outstanding Financial Statements. The Company needs more time to resolve the outstanding issues relating to the recoverability of certain trade and other receivables and to complete the Outstanding Financial Statements.

 

Management is still actively undertaking measures to resolve the above outstanding issues to expedite the issuance of the Annual Report 2018. The Company had on 22 October 2019 submitted a request to Bursa Securities for an extension of time till 31 December 2019 for the issuance of Annual Report 2018. The Company is currently awaiting the decision of Bursa Securities on the said request.

 

Pursuant to Paragraph 9.28(5) of the Main Market Listing Requirements (“MMLR”), if FSBM fails to issue its Annual Report 2018 within five (5) market days after the expiry of the timeframe as stated in Paragraph 9.23 of the MMLR, i.e., 31 October 2018 which is a period not exceeding four (4) months from the close of the financial year ended 30 June 2018 (the last day of this 5 market days shall hereinafter be referred to as "the Suspension Deadline"), in addition to any enforcement action that Bursa Securities may take, Bursa Securities shall suspend trading in the securities of FSBM.

 

The suspension shall be effected on the market day following the expiry of the Suspension Deadline and shall be uplifted on the market day following the issuance of the Annual Report 2018 unless otherwise determined by Bursa Securities. As such, FSBM’s securities have been suspended from trading with effect from 9 November 2018.

 

Pursuant to Paragraph 9.28(6) of the MMLR, if FSBM fails to issue the Annual Report 2018 by 30 April 2019 which is within six (6) months from the expiry of the timeframe, i.e., 31 October 2018 as mentioned above, in addition to any enforcement action that Bursa Securities may take, de-listing procedures shall be commenced against FSBM. As such, Bursa Securities had on 2 May 2019 given FSBM a Notice to Show Cause on de-listing of the securities of FSBM. The Company had on 8 May 2019 submitted its written representations to Bursa Securities as to why FSBM’s securities should not be removed from the Official List of Bursa Securities. Bursa Securities had on 9 August 2019 decided to defer the de-listing of the securities of FSBM provided FSBM issues its Annual Report 2018 on or before 30 October 2019. Bursa Securities shall de-list the Company pursuant to Paragraphs 9.28 and 16.11(1)(b) of the MMLR in the event the Company fails to issue the Annual Report 2018 on or before 30 October 2019. In this respect, the securities of the Company shall be removed from the Official List of Bursa Securities upon the expiry of 2 market days from the date the Company is notified by Bursa Securities or on such other date as may be specified by Bursa Securities.

 

This announcement is dated 31 October 2019.


Announcement Info

Company Name FSBM HOLDINGS BERHAD
Stock Name FSBM
Date Announced 31 Oct 2019
Category General Announcement for PLC
Reference Number GA1-31102019-00047