Kuala Lumpur: Malaysia-based Global Carriers faces being delisted and suspended from Bursa Malaysia Securities after failing to submit its regularisation plan for approval by the exchange holding company before its stipulated deadline.
Trading in Global Carriers’ securities will be suspended with effect from October 27 and will be de-listed on October 29, unless Global Carriers submits an appeal against the de-listing to Bursa Securities on or before October 24.
If Global Carriers does submit an appeal in time, removal of its securities from the Official List of Bursa Securities will be deferred pending the decision on the company’s appeal.
Global Carriers previously applied for a time extension of up to January 31, 2015, in which to submit its regularisation plan, but this was rejected by Bursa Securities. [16/10/14]