R&A faces suspension on Sept 14

JF Apex Research: "Over a medium to long term outlook, we are cautious on the FBM KLCI performance as it still treads below the 100- and 200-day moving averages at 1,650 and 1,700 points respectively."

KUALA LUMPUR: R&A Telecommunication Group Bhd faces trading suspension from Sept 14 and de-listing on Sept 19 after its application for more time to submit its regularisation plan was rejected by Bursa Malaysia Securities.

The regulator said on Tuesday the de-listing of the ACE Market company would take effect on Sept 19 unless the company could submit an appeal on or before Sept 13.

“Any appeal submitted after the appeal timeframe will not be considered by Bursa Securities,” it said.

However, if the telco services related company is able to submit an appeal to Bursa Securities within the appeal timeframe, Bursa Securities will defer the de-listing pending the decision on the company’s appeal.