Why LCL Corp Bhd fell flat?

LCL Corp Bhd shares fell flat in an active trading today, Thursday, Dec 16 after it was warned by Bursa Malaysia Securities that it  faces suspension from Dec 23, 2010.

The shares price was down to 1.5 sen in the early trade. The falls definitely related to the suspension announcement.

LCL shares' 52 weeks high is 32.5 sen, on Feb, 2.

The Interior fit-out specialist risks being delisted this month if it fails to submit an appeal to the stock exchange by Dec 22.

Yesterday the company received a letter from Bursa Malaysia Securities saying:

(a) the trading in the securities of the Company will be suspended with effect from 23 December 2010; and

(b) the securities of the Company will be de-listed on 27 December 2010 unless an appeal is submitted to Bursa Securities on or before 22 December 2010 ("the Appeal Timeframe"). Any appeal submitted after the Appeal Timeframe will not be considered by Bursa Securities.

The company was badly hit by the Dubai financial crisis, faces suspension after it failed to come up with a regularisation plan.

So sad to see one of the counter that made money for me now face suspension. Hope there will come back soon and stronger.