LYC Healthcare faces suspension on Oct 27, delisting on Oct 29
An appeal by Oct 26 would defer delisting pending Bursa Securities’ decision, but would not stop the trading suspension.
LYC Healthcare Bhd faces a trading halt and removal from Bursa Malaysia after losing the sponsor for its proposed Guidance Note 3 (GN3) regularisation plan. Its filing said UOB Kay Hian (M) Sdn Bhd (UOBKH) ended its appointment through a letter dated Oct 16, without giving a reason.
Trading will stop on Oct 27, while delisting is scheduled for Oct 29 unless LYC lodges an appeal by Oct 26. A timely appeal would put delisting on hold until Bursa Securities decides, although the suspension would still take effect.
LYC said it would engage another sponsor to help with the regularisation plan and meet ACE Market listing requirements. It said UOBKH’s departure was not expected to affect its finances or operations immediately.
The company entered GN3 status in March 2025 when shareholders’ equity dropped below 25% of issued share capital. It obtained a six-month extension earlier this year, giving it 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 for FY2026, which ended March 31, 2026. It cited a RM12.69 million net loss, RM72.15 million in net current liabilities and a RM10.62 million shareholders’ deficit.
For 1QFY2027, ended June 30, 2026, LYC reported a smaller net loss of RM3.17 million against RM4.54 million a year earlier, mainly reflecting reduced operating costs. Revenue increased to RM34.05 million from RM32.07 million as Singapore operations contributed more.
If delisted, LYC would remain an unlisted company and could carry on its operations and restructuring. Shareholders would keep their holdings, but could no longer trade them on Bursa Malaysia; their rights would remain protected under the Companies Act 2016.
