KUALA LUMPUR: Xin Hwa Holdings Bhd
has announced the suspension of the goods vehicle operator licence of its subsidiary had been shortened by about a month to Jan 12, 2025, following an appeal.
The group previously said the suspension was scheduled to end on Feb 10, 2025, following the Land Public Transport Agency (Apad) Johor Bahru's finding that Xin Hwa Trading & Transport Sdn Bhd (XHTT) was not in full compliance with vehicle maintenance and safety requirements.
In a Monday filing with Bursa Malaysia, the group said XHTT received a notice from Apad Johor Bahru on the earlier uplifting of the suspension, whereupon XHTT will be able to continue its operations as usual.
Xin Hwa said that since the start of the suspension on Nov 13, 2024, there have been relevant rectifications to ensure the continuity of XHTT's daily operations and the minimisation of losses.
During this time, vehicles registered under other subsidiaries have been fulfiling XHTT's urgent deliveries and some of the services have been outsourced to competent third-party transporters.
Xin Hwa said previously that a three-month suspension from Nov 13, 2025, to Feb 10, 2025, would have a 4-5% impact on the group's revenue for the financial year.
The expected losses were estimated to be about 21% of the affected revenue.
As at the lunch break, shares in Xin Hwa were down 0.5 sen or 3.03% to 16 sen a share after 6,900 shares changed hands.
