London Biscuits' shares to be suspended from Jan 21 amid winding up petition

  • Jan 14, 2020
  • The Edge Markets

KUALA LUMPUR (Jan 14): Trading in the shares of London Biscuits Bhd will be suspended from Jan 21, until further notice. 

The cakes, biscuits and snack food manufacturer said this in a filing with Bursa Malaysia today.

London Biscuits is currently facing a winding-up petition, and has pledged cooperation in the interim liquidation process. Lim San Peen of PricewaterhouseCoopers Advisory Services Sdn Bhd has been appointed as the interim liquidator.

On Sept 18, a petition was served on London Biscuits by Desa Potensi Sdn Bhd, demanding the outstanding payment of RM16.41 million, being unpaid invoices owed by London Biscuits during the period from April 1 to June 30 last year.

The High Court had then granted an order that there shall be no ex-parte application by London Biscuits, pending determination of the application by Desa Potensi, OCBC Al-Amin and Bangkok Bank Bhd to appoint an interim liquidator. 

London Biscuits shares closed 2.5 sen or 41.67% lower at 3.5 sen today, for a market capitalisation of RM10.18 million.