YTL Corp, subsidiaries ask for extension to issue quarterly reports

KUALA LUMPUR (May 14): YTL Corporation (YTL Corp) and its subsidiaries, YTL Power International and YTL Hospitality REIT, as well as Malayan Cement Bhd have all requested for an extension of time to issue quarterly reports.

In separate filings to Bursa Malaysia today, the companies said that the extension was for the issuance of the consolidated results for financial period ended March 31.

“The COVID-19 pandemic crisis has created substantial disruptions in the group’s businesses in Malaysia as well as the multiple jurisdictions in which the group operates in, some of which are still under partial lockdown to stem the spread of the virus,” it said.

Meanwhile, Malayan Cement said that the COVID-19 pandemic crisis had created substantial disruptions in the group’s businesses in Malaysia as well as Singapore, which is still under partial lockdown to stem the spread of the virus.

YTL Cement Bhd, a subsidiary of YTL Corp, holds a substantial stake in Malayan Cement.

All the companies said that as part of the relief measures accorded to listed issuers to alleviate regulatory compliance and financial burdens, Bursa Malaysia Securities Bhd has granted a one-month extension till June 30 for the issuance of quarterly reports, which are due by May 31.

“In view that the progress of preparation of the consolidated financial statements of the group for the financial period ended March 31 has been affected, the board has decided to utilise the extension period provided by Bursa Securities and will ensure that the report is issued no later than June 30, 2020,” the companies said.

At today’s close, YTL Corporation's share price stood at 73 sen, YTL Power ended at 66.5 sen, YTL REIT was at 96 sen and Malayan Cement closed at RM2.51.