LYC Healthcare delisting put on hold after appeal
Trading in its securities is still expected to be suspended from Oct 27 as the group seeks a replacement sponsor for its regularisation plan.
LYC Healthcare Bhd said its appeal to Bursa Malaysia Securities Bhd has deferred its removal from the ACE Market, which had been scheduled for Oct 29. The company submitted the appeal before the Oct 26 deadline, according to its bourse filing.
The appeal is not expected to prevent a trading suspension scheduled to begin on Oct 27. LYC said it remained committed to restoring its financial position and retaining its listing.
The delisting decision followed UOB Kay Hian (M) Sdn Bhd’s withdrawal as sponsor for LYC’s proposed Guidance Note 3 (GN3) regularisation plan. No reason was disclosed for the withdrawal, and LYC said it was looking for another sponsor.
LYC entered GN3 status in March 2025 when its shareholders’ equity dropped below 25% of issued share capital. After receiving a six-month extension earlier this year, the group has until the end of November to submit its plan.
External auditor SBY Partners PLT raised material uncertainties over LYC’s ability to remain a going concern while issuing an unqualified opinion on its FY2026 financial statements. It cited RM12.69 million in net loss, RM72.15 million in net current liabilities and RM10.62 million in shareholders’ deficit.
LYC shares ended Tuesday at half a sen, a decline of one sen or 66.67%. The closing price valued the group at RM2.77 million.
