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SGX rejects Tee International's request for more time to unveil FY2020, Q1 FY2021 results
THE Singapore Exchange (SGX) has rejected an application from Tee International for an extension of time to announce its year-end results, but gave the company an extra month to hold its annual general meeting (AGM).
Tee International on Tuesday said it had asked SGX to extend the deadline for reporting its results by two months for the financial year ended May 31, 2020, as well as for the first quarter of the current financial year. However, SGX’s rejection means the company will have to announce these two sets of results by July 30 and Oct 15 respectively.
The engineering firm had also asked for a two-month extension to hold its AGM. With the one-month extension granted, the company now has to convene its AGM by Oct 31.
In a separate filing to SGX last Friday, the company said that the appointment of its new auditors, Foo Kon Tan (FKT), will be finalised only upon the conclusion of the company’s extraordinary general meeting on July 13. After this, the auditors would need more time to complete the audit and finalise the financial results of the group, said Tee International.
It had also concurrently made an application to the Accounting and Corporate Regulatory Authority of Singapore (ACRA) for a two-month extension of time to hold its AGM by Nov 30. It will update its shareholders on the outcome of the application to ACRA in due course, the company said.
Tee International called for a trading halt on Monday morning, before this announcement. Units in Tee International closed flat at S$0.030 on Monday.