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Global Carriers to be suspended from Oct 27 for failing to submit regularisation plan

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Global Carriers to be suspended from Oct 27 for failing to submit regularisation plan Empty Global Carriers to be suspended from Oct 27 for failing to submit regularisation plan

Post by Cals Fri 17 Oct 2014, 00:52

Global Carriers to be suspended from Oct 27 for failing to submit regularisation plan
By TheEdge Markets.com / TheEdge Markets.com | October 16, 2014 : 8:18 PM MYT

KUALA LUMPUR (Oct 16): Global Carriers Bhd ( Financial Dashboard)’s securities will be suspended with effect from Oct 27, 2014 and de-listed on Oct 29, unless the company submits an appeal against the de-listing to Bursa Malaysia on or before Oct 24, a filing to Bursa revealed this evening.

“Any appeal submitted after the appeal timeframe will not be considered by Bursa,” said the exchange regulator in a statement.

Global Carriers, which provides shipping freight services, posted a huge loss of RM177.53 million or RM1.06 per share for the six months ended June 30, 2014, on revenue of RM17.38 million. The loss was due to disposal of certain subsidiaries.

The group’s shareholders fund showed a negative RM199.8 million or –RM1.31 per share as at June 30, 2014.

Global Carriers shares were last traded on Oct 9 at 3.5 sen, with a market capitalisation of RM5.86 million.
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