Perak Corp faces suspension for not submitting annual report

Perak Corporations owns and operates the Lumut Maritime Terminal

KUALA LUMPUR: Perak Corporation Bhd faces trading suspension on May 9 for failing to submit its annual report for the financial year ended Dec 31, 2016  (2016 AR) to Bursa Malaysia Securities Bhd or public release by April 30, 2017.

Bursa Securities said on Thursday that if Perak Corp failed to submit the 2016 AR on or before May 8, trading would be suspended from 9am the next day.

It also said if Perak Corp failed 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, it would also face delisting.

At midday, Perak Corp was unchanged at RM1.94.

Perak Corp  is a key subsidiary of Perbadanan Kemajuan Negeri Perak Group (PKNP Group).  Its key activities are to support PKNP Group as the primary driver of economic development in Perak.

Perak Corp's main activities are streamlined into three core businesses namely property development, ports & logistics as well as hospitality and tourism.