KUALA LUMPUR (Oct 8): Carzo Holdings Bhd (KL:CARZO) said on Wednesday it has decided not to appeal to Bursa Malaysia Securities against its impending delisting.
Bursa Securities notified the company on Aug 2 that its shares would be delisted after it failed to acquire a new core business since exiting its fresh fruit and fruit products distribution operations last year, unless the company filed an appeal by Oct 9.
“Trading of the securities of Carzo will be suspended with effect from Oct 10, 2025, and the securities of the company will be delisted on Oct 15, 2025,” the LEAP Market company said in a filing on Wednesday.
Carzo ceased its core business of distributing fresh fruits and fruit products in November last year, following consecutive losses and persistent negative cash flow. The move came after several months of cost-cutting efforts, including scaled-down operations, aimed at shoring up its financials.
For FY2025, Carzo narrowed its net loss to RM1.42 million from RM6.52 million a year earlier. As at end-June, it reported cash and bank balances of RM23,880 and fixed deposits of RM1.96 million, against total borrowings of RM11.45 million. Its accumulated losses stood at RM25.12 million.
Shares in Carzo were last traded on July 28, when it closed at 39.5 sen, valuing the company at RM38 million.