Wintoni fails to submit financial results, trading of shares to be suspended Dec 8

by **Cals** Wed 02 Dec 2015, 20:44

Wintoni fails to submit financial results, trading of shares to be suspended Dec 8

By Meena Lakshana / theedgemarkets.com | December 2, 2015 : 7:39 PM MYT

KUALA LUMPUR (Dec 2): The trading of [size=16]Wintoni Group Bhd ([You must be registered and logged in to see this image.] Valuation: 0.30, Fundamental: 1.20) shares will be suspended next Tuesday at 9am, as the company has failed to submit its quarterly report for the period ended Sept 30, 2015 within the stipulated timeframe accorded by Bursa Malaysia.

In a filing with Bursa Malaysia, Wintoni said it had failed to submit its quarterly results by Nov 30, 2015 to Bursa Malaysia Securities Bhd ([You must be registered and logged in to see this image.] Valuation: 1.70, Fundamental: 2.30) for public release, pursuant to Rule 9.22(1) of Bursa Securities' Ace Market Listing Requirements.

“Rule 9.28(5) of the listing requirements stipulates that if a listed company fails to issue outstanding financial statements within five market days after the expiry of the relevant timeframe (suspension deadline) as stated in Rule 9.22 of the listing requirements, in addition to any enforcement action that Bursa Securities may take, Bursa Securities shall suspend the trading in the securities of the company,” the filing read.

“The suspension shall be effected on the next market day, after the suspension deadline,” the filing read, adding that the company’s securities will be suspended from 9am on Dec 8, until further notice.

The company also risks delisting, should it fail to issue the outstanding financial statements within six months from the expiry of the stipulated timeframe.

“Pursuant to Rule 9.28 (6) of the LR, if a listed issuer fails to issue the outstanding financial statements within six months from the expiry of the relevant timeframes, in addition to any enforcement action that Bursa Securities may take, delisting procedures shall be commenced against such listed issuer,” the filing stated.

Wintoni (fundamental: 1.2; valuation: 0.3) shares closed 1.5 sen or 18.75% lower at 6.5 sen today, for a market capitalisation of RM33.35 million.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
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