Qualampur: Barsa Malaysia Securities BHD has publicly reprimanded the MCom Holdings BHD to fail to submit its annual audited financial details for a period of 18 months ending June 30, 2024 till the time limit of October 31, 2024.
In violation of leap market listing requirements, MCO did not release the financial statements audited with timely auditors and directors reports.
Barsa Malaysia said, “So far, M.Com has not yet announced the AFS 2024.”
The regulator emphasized that timely financial presentations are important to maintain a fair and systematic market.
MCom cited the resignation of insufficient accounting staff, high turnover and its external auditors on October 29, 2024 as a delay.
Barsa Malaysia rejected these justification, stating that listed companies should have enough resources to meet compliance obligations.
The regulator referred to the failure of the MCOM to dispose of the outstanding audit fee, which obstructed the audit process.
De-listing procedures were introduced, but were postponed on the condition that M.Com presents the financial until 31 August, 2025.
The expansion was given on May 21, 2025 after MCom appointed a new auditor. – Bernma
