MP Corp delays in submission of audited financial statement

KUALA LUMPUR (Oct 28): Property developer Malaysia Pacific Corp Bhd (MP Corp) announced to the stock exchange today that its audited financial statements (AFS) for the financial year ended Jun 30, 2014 (FY14) will be delayed.

In a filing to Bursa Malaysia, the company said the audit was currently still in progress. The board of directors wanted to provide more time for the external auditors to complete the AFS 2014. The submission is due on Oct 31, 2014.

“The company expects to submit its AFS 2014 on or before Nov 7, 2014,” the filing reads.

In another filing to the exchange today, MP Corp also announced it has accepted an offer from RHB Bank Bhd, to restructure its over RM69.1 million banking facilities into term loans.

Apart from that, the company had on Oct 15, received a debt default notice from AmanahRaya Development Sdn Bhd.

MP Corp closed unchanged at 40.5 sen today, with 112,000 shares transacted, giving it a market capitalisation of RM116.5 million.

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