Multi Sports to issue 2017 annual report by end-May

PETALING JAYA: Multi Sports Holdings Ltd is looking to issue its 2017 annual report to Bursa Securities and shareholders within one month from April 30, 2018.

The delay was due to the fact that the company and the external auditors Messrs RT LLP require additional time to complete the annual report, it said in the stock exchange filing.

“The management of the company is working closely with Messrs RT LLP to expedite the completion of the annual report 2017,” it added.

The company’s securities have been suspended from trading since May 10, 2016, and will continue to be suspended until the announcement/issuance of the annual report.

On a separate filing, Multi Sports said as to date, the company is actively formulating a plan to regularise its financial condition. It has less than seven months to submit its regularisation plan.

On Wednesday, the company recently issued seven pending quarterly financial reports up to December 31, 2017 after numerous extensions of time.

For the full-year of 2017, it registered a narrowed net loss of RM148,000 compared with RM585.71 million in 2016.

Source: The Sun Daily

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