Tricubes to appeal to Bursa soon
KUALA LUMPUR, July 4 – Tricubes Bhd will be submitting an appeal against Bursa Malaysia’s decision to reject its proposed regularisation plan as soon as possible.
In a filing to Bursa Malaysia today, Tricubes said the rejection by Bursa will only affect the listing status but will not affect the company’s ability to carry out its business as usual.
“The company wishes to assure its shareholders and customers that the company is in good financial standing and is continuing with business as usual,” it said.
Tricubes said it has embarked on a new line of businesses (pay-per-use services) which is recurring and transactional in nature that has a positive impact on the company’s financial forecast.
The projects include payment of traffic summonses via automated teller machines; E-Post (sending of digital notices/bills/ statements via myemail account); and Tamtamcrm (a subscription based on customer relationship management system).
Yesterday, Bursa rejected Tricubes’ proposal, saying the securities of the company would be suspended from July 11 as the company was unable to demonstrate that it could return to profitability and also the viability of the new business segments.
The company was appointed by the Government to implement the 1Malaysia email project in April 2011. – Bernama