upon the expiry of the 12-month period from the announcement of the triggering event, re-assess its condition and announce whether it continues to trigger the 8.04A(2)(b)/8.03A(2)(b) Suspended Criterion, and if affirmative, it must henceforth comply with all obligations under the MMLR/ACE LR that arise from the triggering event.As Wintoni had ceased operations, he was not in a position to prepare the financial statements. The liquidator responded that it was not his role or function as liquidator to do so. immediately announce that it has triggered the 8.04A(2)(b)/8.03A(2)(b) Suspended Criterion and In March 2018, Bursa Malaysia conducted an inquiry against Wintoni on the delay in the announcements and issuance of Wintoni’s financial statements.Under Paragraph 8.04A(2)(b) of the MMLR and Rule 8.03A(2)(b) of the ACE LR, an issuer is deemed to have ‘ insignificant business or operations’ if its business or operations generate revenue on a consolidated basis that is 5% or less of (a) its share capital (excluding redeemable preference shares and treasury shares) or (b) in the case where the issuer is a unit trust, real estate investment trust or business trust listed on the Main Market, its unit holder capital, in each case based on its latest annual audited or unaudited financial statements.Īn issuer listed on the Main Market or the ACE Market that triggers the ‘ insignificant business or operations’ criterion (“ 8.04A(2)(b)/8.03A(2)(b) Suspended Criterion”) between 1 July 2021 and 31 December 2021 will be given 12 months relief from the date that it triggers the 8.04A(2)(b)/8.03A(2)(b) Suspended Criterion from complying with the obligations under the MMLR/ACE LR that arise from the triggering of the 8.04A(2)(b)/ 8.03A(2)(b) Suspended Criterion.
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