China Automobile Parts gets show-cause notice from Bursa Malaysia

PETALING JAYA: Bursa Malaysia Securities Bhd has issued a show-cause notice to China Automobile Parts Holding Ltd (CAP) on the commencement of trading suspension, after it failed to reissue its audited financial statements.
CAP failed to reissue the audited financial statements for the financial year ended Dec 31, 2015, by July 5, 2017.
In a filing with the stock exchange, Bursa Malaysia said CAP is now required to reissue the financial reports within six months, on or before Jan 4, 2018, failing which the regulator would commence delisting procedures against it.
Last month, the local bourse ordered the company to have its first-quarter financial report ended March 31, 2017 reviewed by its external auditor.
CAP had said it was unable to release its first quarterly report ended March 31, 2017 by May 31, 2017, as it was unable to finalise it within the stipulated time frame. Trading of CAP shares has been suspended since June 8.