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This was last year's news. Any updates with this stock?

Trading in Kenmark Industrial Co (M) Bhd shares will be suspended from Aug 9 until further notice as the company has failed to submit its audited accounts for the financial year ended March 31 to Bursa Malaysia within the stipulated timeframe.

The troubled furniture manufacturer had informed Bursa last Tuesday that it would miss the July 31 deadline to submit its audited accounts, after Bursa rejected its application for an extension.

Kenmark hogged the headlines in early June after its key management and Taiwanese executive directors went missing, leaving the company in a lurch.

The case is still under investigation, and it is understood that the SC may invoke its powers under the newly created Section 317A of the Capital Markets and Services Act 2007 (CMSA) to pursue any wrongdoings by Kenmark officials.

The Securities Commission (SC) then started investigations on the company on non-submission of financial statements, default in payments and the missing directors.

Days later, former director Datuk Ishak Ismail appeared as the white knight and emerged as the single largest shareholder after acquiring a 32% block in Kenmark, only to sell off his entire stake within two weeks for a massive profit.

The SC had on June 15 obtained a court injunction to stop Ishak from using the RM10.2mil proceeds from his sale of 58.7 million Kenmark shares.

The case is still under investigation, and it is understood that the SC may invoke its powers under the newly created Section 317A of the Capital Markets and Services Act 2007 (CMSA) to pursue any wrongdoings by Kenmark officials.