Thursday, December 30, 2010

Maxbiz down in heavy trade

KUALA LUMPUR: Shares of Maxbiz Corp Bhd are down in heavy trade on Thursday, Dec 30 on investors' worries about the outlook for the company and the status of the report by Messrs. Gomez & Co.

At 9.51am, it was down six sen to 17.5 sen with 21.18 million shares done.

The FBM KLCI rose 2.62 points to 1,526.96. Turnover was 229.89 million shares done valued at RM194.10 million. There were 258 gainers, 136 losers and 208 stocks unchanged.

On Dec 9, Maxbiz received a letter from Bursa Malaysia Securities Bhd directing it to furnish information to Messrs. Gomez & Co on the full listing of all inventories as at June 30, 2010; the anticipated cash flows of the asset cash-generating units of the group; and a letter of waiver from a creditor.

However, the company said in a recent announcement that Messrs. Gomez & Co. informed the board that they are unable to complete their assignment by Dec 17.

The board had requested from Bursa Malaysia for an extension of one week for Messrs. Gomez & Co. to complete their assignment and submission to Bursa Malaysia thereafter.


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