Trading in Maxwell to be suspended from May 10

PETALING JAYA: Maxwell International Holdings Bhd shares will be suspended with effect from May 10 after the company failed to submit its annual report, including the annual audited financial statements for the financial year ended Dec 31, 2017, by May 8.
Pursuant to the Listing Requirements, a company faces trading suspension if it fails to issue the outstanding financial statements within five market days after the expiry of the relevant time frame.
The delisting process will begin if it fails to issue the outstanding financial statements within six months from the expiry of the relevant time frame under the Listing Requirements.
Maxwell, a Practice Note 17 company, has until June 30 to submit its regularisation plan.
On Bursa Malaysia today, Maxwell rose half a sen or 33.3% to 2 sen on 2.24 million shares done.