EKA Noodles submits appeal against possible de-listing as net loss increases
KUALA LUMPUR (May 28): EKA Noodles Bhd, which today announced a higher net loss of RM1.22 million for the first quarter (Q1) ended March 31, 2021, against RM556,000 a year earlier, has submitted an appeal against a possible de-listing.
In a stock exchange filing, M&A Securities Sdn Bhd, on behalf of the board, said the appeal was submitted to Bursa Malaysia Securities (Bursa Securities) today.
The company’s securities would be de-listed on June 2, 2021, unless an appeal is made to Bursa Securities by May 28, 2021.
Meanwhile, EKA Noodles said the bigger loss incurred during the quarter under review was due to recognised additional borrowing interest that led to a rise in finance cost to RM1 million from RM0.57 million in the preceding year’s corresponding period.
Revenue, however, increased 48.74% to RM10.19 million from RM6.85 million previously mainly arising from the selling of original equipment manufacturer brand products which had generated revenue in the sum of RM2.86 million, it said.
In a separate filing, EKA Noodles disclosed it had received a special notice from Sheffie and Partners, acting for Norhayati Tukiman, on May 25, 2021, on the resolutions to remove persons from office as directors.
The company added that it was advised by its solicitors that the special notice was invalid due to insufficient notice period given to EKA Noodles. TheEdge