Wednesday, July 13, 2011

Ngiu Kee faces suspension on July 21

KUALA LUMPUR: Ngiu Kee Corporation Bhd faces suspension on July 21 and delisting on July 25 after it failed to submit its regularisation plan to the regulators'' for approval within the timeframe.

A Bursa Malaysia circular said on Wednesday, July 13 Ngiu Kee failed to submit the plan to Securities Commission or Bursa Malaysia Securities Bhd.

It said the securities of the company will be suspended from July 21 and delisted on July 25 unless an appeal is submitted to Bursa Securities on or before July 20.

'Any appeal submitted after the appeal timeframe will not be considered by Bursa Securities,' it said.

Bursa Securities said if the company submits an appeal to Bursa Securities within the appeal timeframe, the delisting would be deferred pending the decision on the company's appeal.

Ngiu Kee share price closed 2.5 sen lower at five sen on Wednesday with 53,200 shares done.

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