Carotech - two standard bursa

Why carotech so fast serve delisting notice while RAMUNIA also PN17 company, 25 February 2010, NOW already 2012 almost 2 years, Nothing at all, no delisting???

extend and extend again???

RAMUNIA - GENERAL ANNOUNCEMENT

Announcement Type: General Announcement
Company Name: RAMUNIA HOLDINGS BERHAD
Stock Name: RAMUNIA
Date Announced: 01/11/2010

Announcement Detail:
Type: Announcement

Subject: RAMUNIA HOLDINGS BERHAD ("RAHB" OR THE "COMPANY")
- MONTHLY ANNOUNCEMENT PURSUANT TO PRACTICE NOTE 17 ("PN 17") OF BURSA MALAYSIA SECURITIES BERHAD ("BURSA SECURITIES") MAIN MARKET LISTING REQUIREMENTS ON THE STATUS OF PLANS TO REGULARISE THE COMPANY'S FINANCIAL CONDITION

Contents: Further to the announcements dated 25 February 2010, 1 April 2010, 3 May 2010, 1 June 2010, 1 July 2010, 3 August 2010, 1 September 2010 and 1 October 2010 and following the classification of RAHB as PN 17 Company pursuant to Paragraph 2.1 (e) of PN 17 of the Main Market Listing Requirements, in relation to the monthly announcement of RAHB's status to regularise the Company's financial condition, RAHB would like to announce that there is no major development to date.

The Company had on 5 July 2010 appointed AmInvestment Bank Berhad as the principal Adviser to the Company for the PN 17 Regularisation Plan.

The Company has approximately four (4) months to submit its Regularisation Plan to the relevant authorities for approval.

This announcement is dated 1 November 2010.

WHY SO UNFAIR???

CAROTECH SERVED WITH DELISTING NOTICE - EXCHANGE's HURRIED ACTION LIKELY TO AFFECT ITS MAJORITY OF RETAIL INVESTORS & NEW SUBSTANTIAL SHAREHOLDERS LIKELY TO EMERGE

CAROTECH reported Mar 29, 2012 that the EXCHANGE had rejected its application for an extension of time till May 2012 to submit its regularisation proposals on the following grounds:
1. Failure to submit regularisation proposals within 12 months i.e. on or before Oct 28, 2011; and
2. Failure to submit proposals within the extended time allowed i.e. Feb 28, 2012.

BURSA said that suspension will be effective Apr 6, 2012 and delisting will be effected Apr 10, 2012 unless an appeal is made before Apr 5, 2012.

EDITOR's NOTES
While 15 months allowance is significant time given to any Company to try to conclude regularisation proposals of its financial condition, the hurried nature of the EXCHANGE in respect of CAROTECH given the EXCHANGE's past record with other financially-distressed companies raises concern as CAROTECH - an ongoing over-leveraged operation is unlike most other financially distressed companies.
What is even more significant in BURSA's decision is that a check with CAROTECH's management showed that the Management had been actively and conscientiously pursuing a resolution to the financing woes. CAROTECH said that the delay is due to the needed concensus that the banks want with the fellow banks which is holding up matters.
CAROTECH is more than 50%-owned by retail shareholders - thus a slightly more careful consideration needs to be accorded by EXCHANGE authorities - lest accusations of inept and favoured handling may surface.
BURSA's actions are inimical to the sentiments of small average investor which the EXCHANGE is trying to court most and its action is likely to see the emergence of new substantial shareholders.