The company said this was due to the change of its external auditor and the impact of movement restrictions in Malaysia and overseas arising from Covid-19.

It said this affected the audit of financial statements for the financial period ended June 30, 2021, which could not be finalised in time for inclusion in the annual report.

In a filing with Bursa Malaysia today, Serba Dinamik said in light of the approved standards on accounting and auditing, the company was of the opinion that the auditor should be given adequate time to perform its statutory obligations without interference and time constraints to ensure that auditing could be conducted effectively and sufficiently.

“We had on Nov 23, 2021, sought an additional extension of time to Dec 31, 2021 to issue the annual report for 2021. However, Bursa Malaysia in its letter dated Nov 24, 2021 rejected our application.

“The company will be submitting an appeal to Bursa Malaysia on the additional extension of time in due course. This announcement is subject to the approval of the appeal,” it said.

Serba Dinamik also noted that trading in its securities had been suspended since Oct 22 and it was now working with its external auditor to expedite the finalisation of audit of the annual financial statements and to issue the annual report as soon as possible before the end of December.