DANAVEST

by Yantoultra Ngui Yichen, The Edge Daily

PETALING JAYA: Bursa Malaysia Securities Bhd has decided to delist Techventure Bhd on Nov 14, 2008 as the company does not have an adequate level of financial condition to warrant continued listing on the Second Board.

Bursa Securities said Techventure could make an appeal by Nov 11.

“In the event Techventure submits an appeal to Bursa Securities within the appeal timeframe, the company is required to make an immediate announcement of the said appeal, and the removal of its securities from the local bourse on Nov 14, 2008 shall be deferred pending the decision on the appeal by Bursa Securities,” it said.

Bursa Securities had on Oct 14 started delisting procedures against Techventure as the Securities Commission (SC) had rejected the company’s appeal against SC’s earlier decision to reject the company’s regularisation plans.