KUALA LUMPUR (May 20): Plywood products manufacturer Annum Bhd (KL:ANNUM) said trading in its shares will be suspended from May 28, after Bursa Malaysia Securities rejected its extension request to submit a regularisation plan.
The Practice Note 17 (PN17) company will also be delisted on May 30, unless an appeal is submitted to the regulator by May 27, according to Annum's exchange filing on Tuesday.
“However, Bursa Securities will proceed to suspend the trading of the company’s securities on May 28, 2025 even though the decision on the company’s appeal is still pending,” the filing said.
Annum, previously known as Cymao Holdings Bhd, had to submit a regularisation plan after being classified as a financially distressed company in May 2024 following a disclaimer of opinion by its previous auditor Messrs SBY Partners PLT, on its audited financial statements for the 18 months ended June 30, 2023.
Earlier this month, Annum’s new auditors Messrs LTTH PLT decided to withhold its opinion on the group’s financial statements for the period ended Dec 31, 2025, due to pervasive limitations in obtaining sufficient appropriate audit evidence, primarily linked to issues flagged by SBY.
Among key concerns raised by LTTH were unverified opening balances, due to issues that SBY was also unable to verify.
Shares of Annum were not traded on Tuesday. It last closed at five sen, giving the company a market capitalisation of RM11.4 million.