Autoair, IRM shares to be suspended from Feb 11

PETALING JAYA: Trading in shares of automotive components manufacturer Autoair Holdings Bhd and plastic products manufacturer IRM Group Bhd will be suspended from Feb 11 after both companies failed to submit their restructuring plans to the regulators.
Filings with the stock exchange state that both will be delisted in February if no appeal is submitted to Bursa Malaysia before Feb 10.
IRM said it has decided to appeal immediately in view of ongoing discussions and negotiations with potential "white knights" and will make an announcement in due course.
Shares of Autoair and IRM were untraded last Friday, with last trading prices of 8.5 sen and 4 sen respectively.
Autoair and IRM were classified as Practice Note 17 companies on Nov 15, 2013 and June 3, 2013, respectively.