Bursa Malaysia: Sarawak Cable Bhd and Annum Bhd are facing delisting from the stock exchange following the rejection of their applications for an extension of time to submit their regularisation plans by Bursa Malaysia Securities Bhd (Bursa Securities). Trading in both securities will be suspended starting May 28, 2025.

According to BERNAMA News Agency, Bursa Securities stated in separate filings that the securities of these companies will be delisted on May 30, 2025, unless an appeal against the delisting is submitted by May 27, 2025. Appeals submitted after this deadline will not be considered.

The exchange further elaborated that if the companies submit their appeals within the stipulated timeframe, the delisting from Bursa Securities’ official list on May 30, 2025, will be postponed until a decision on the appeal is reached. Nonetheless, trading suspension will proceed on May 28, 2025, even if the appeal decision is pending.

Bursa Securities also clarified that post-delisting, both companies would continue to operate as unlisted entities. They can proceed with their business operations and corporate restructuring, and shareholders may still benefit from the companies’ performance. However, shareholders will possess shares that are no longer quoted and traded on Bursa Securities. Their interests and rights will remain protected under the Companies Act 2016.