Reported in The Edge Malaysia (5/10/06) that

“The Ayer Molek Rubber Company Bhd (AMolek) has aborted its proposed rights and bonus issue.”

The reason cited is that it is not able to comply with the revised listing requirements on bonus issue that came effect on May 29.

The new rule is that:

“an issuer of a proposed bonus issue had to ensure the necessary reserves required for the capitalisation of the bonus were unimpaired by losses on a consolidated basis, where applicable, based on the lister’s latest audited accounts and quarterly report.”

For AMolek, it had posted a net loss of Rm1.25million for its second quarter ended June 30, 2006.

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