Quick take: London Biscuits tumbles 42% as suspension looms


  • Stock on the Move
  • Wednesday, 15 Jan 2020

KUALA LUMPUR: Shares of London Biscuits Bhd fell to a record low of two sen in early Wednesday trade as it faces imminent trading suspension.

The confectionery manufacturer tumbled 42.86%, or 1.5 sen to two sen with 20.77 million shares traded.

Trading in the shares of London Biscuits will be suspended from Jan 21, until further notice.

London Biscuits is currently facing a winding-up petition, and has pledged cooperation in the interim liquidation process.

Lim San Peen of PricewaterhouseCoopers Advisory Services Sdn Bhd has been appointed as the interim liquidator.

On Sept 18, a petition was served on London Biscuits by Desa Potensi Sdn Bhd, demanding the outstanding payment of RM16.41mil, being unpaid invoices owed by London Biscuits during the period from April 1 to June 30 last year.

The High Court had then granted an order that there shall be no ex-parte application by London Biscuits, pending determination of the application by Desa Potensi, OCBC Al-Amin and Bangkok Bank Bhd to appoint an interim liquidator.

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