Pointless 1Malaysia email project to continue despite delisting
Both the company implementing the “1Malaysia” email (MyEmail) project and the agency overseeing the Malaysian Government’s transformation programs insisted that the project will not be affected by the company’s possible delisting.
On July 4, Bursa Securities rejected the regularization plan proposed by Tricubes Bhd and said shares would be suspended on July 11. The company, listed on the secondary ACE market, has until Aug 2 to appeal. The Bursa Securities decision saw Tricubes shares take a free fall, plunging 70% to three sen (approximately one US cent). It was the most traded share that day with more than 15 million shares exchanging hands.
“We will respect the regulatory processes that govern them; until they exhaust those processes, we will still consider them [Tricubes] part of the [MyEmail] project,” said a spokesman for the Performance Management & Delivery Unit (Pemandu) of the Prime Minister's Department, which implements and oversees the Government's various transformation programs.
