Perak Corp suspension on Bursa due to 2016 audited accounts delay

IPOH: Trading in Perak Corporation Bhd (PCB) shares on Bursa Malaysia has been suspended since May 9 2017 due to the company’s failure to publish its 2016 audited accounts by April 30, 2017, the deadline set by Bursa Malaysia.
PCB is a subsidiary of Perak State Development Corporation (PSDC).
In a statement, PSDC government affairs division head Sayed Shariffudin Sayed Shamshuddin said the delay is related to accounts and auditing issues which have to be settled by the auditor before they can be approved.
“Our investigations show that the auditing issues are related to non-compliance and certainly not due to PCB’s integrity, financials or assets which are currently in a strong position,” the statement said.
Sayed Shariffudin said the audited accounts problem will be solved by the end of May and PSDC will closely monitor the situation so that the company’s annual general meeting can be held as scheduled by Bursa Malaysia.
He also said the issue will in no way jeopardise PCB’s or PSDC’s plans and implementation of projects that are in the pipeline. – Bernama