Swee Hong gets 3-month extension to AGM deadline till Apr 30

WATCH-LISTED Swee Hong has been given a three-month extension to its annual general meeting (AGM) deadline, the board disclosed on Wednesday.

Swee Hong could not hold the AGM by the initial deadline of Jan 31 because, given its cash flow difficulties and non-payment of audit fees, the external auditors "were unwilling to commence audit of the FY2019 accounts", it said in its latest filing.

But, as it has since negotiated with the auditors and paid them the fees, "it is now intended for them to commence audit and for the company to hold its AGM as soon as possible", the board added.

Still, to get the AGM deadline extended to Apr 30, Mainboard-listed Swee Hong must start its audit by Friday, according to conditions imposed by the Singapore Exchange. It has also applied to the Accounting and Corporate Regulatory Authority for more time for its AGM.

The company must also confirm in writing that it is not aware of any hitherto unannounced information that will have a material bearing on investor decisions.

Trading in Swee Hong shares has been suspended since May 2019.