PETALING JAYA: Sarawak Cable Bhd
will be delisted on July 15, after Bursa Malaysia dismissed its appeal for an extension of time until Dec 31, to submit a regularisation plan.
In a filing with Bursa Malaysia, the cable manufacturer said, upon its delisting, the company will continue to exist but as an unlisted entity.
“The company is still able to continue its operations and business and proceed with its corporate restructuring and its shareholders can still be rewarded by the company’s performance. However, the shareholders will be holding shares that are no longer quoted and traded on Bursa Securities.
“The interests and rights of the shareholders will remain safeguarded under the Companies Act 2016. The company will continue to update and maintain the shareholders’ information in their register.”
Sarawak Cable fell into PN17 status in September 2022 after its external auditors flagged uncertainty over its ability to continue as a going concern.
