London Biscuits shares to be suspended from Jan 21 amid winding-up petition

KUALA LUMPUR: Trading of shares in London Biscuits Bhd will be suspended from Jan 21 until further notice, the company said in a filing with Bursa Malaysia yesterday.

The cakes, biscuits and snacks manufacturer is currently facing a winding-up petition, and has pledged cooperation in the interim liquidation process.

Lim San Peen of PricewaterhouseCoopers Advisory Services Sdn Bhd has been appointed the interim liquidator.

On Sept 18, 2019, a petition was served on London Biscuits by Desa Potensi Sdn Bhd, demanding the outstanding payment of RM16.41 million, being unpaid invoices owed by London Biscuits during the period from April 1 to June 30 last year.

The High Court then granted an order that there shall be no ex parte application by London Biscuits pending the determination of the application by Desa Potensi, OCBC Al-Amin and Bangkok Bank Bhd to appoint an interim liquidator.

London Biscuits shares closed 2.5 sen or 41.67% lower at 3.5 sen yesterday with a market capitalisation of RM10.18 million.