Carzo risks delisting after failing to secure new core business
In a filing with Bursa Malaysia, the company said it had received a notice from Bursa Securities asking for written representations on why a suspension and delisting should not be imposed.
Carzo said the notice was issued due to its failure to comply with Rule 6.06(2) of the LEAP Market Listing Requirements — to acquire a new core business within nine months from its announcement on cessation of its core business.
'The company wishes to highlight that in the event Bursa Securities decides to de-list the company, the securities of the company shall be removed from the Official List of Bursa Securities on a date specified by Bursa Securities.
Carzo announced in November last year that it was ceasing its core business of distributing fresh fruits and fruit products.
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