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SEC delists Huejay International from CSE official list 

07 Sep 2021

By Shenal Fernando The Securities and Exchange Commission of Sri Lanka (SEC) has by circular dated 2 September 2021 announced that Huejay International Investments PLC shall be delisted from the official list of the Colombo Stock Exchange (CSE) with effect from 6 September 2020 under rule 4(2) of SEC rules contained in gazette extraordinary No. 1215/2 of 8 December 2001. Huejay International Investments PLC was incorporated on 21 July 2008 and has its registered office and principal place of business at No. 32, Sir Mohamed Macan Marker Mawatha, Colombo 3. The principal activity of the company is to maintain, manage, develop, and sustain the utility and value of the Huejay Court Complex Building, and the principal activity of its subsidiary Huejay Development (Pvt.) Ltd. involves the renting out of building premises. Huejay International Investments PLC recorded a profit of Rs. 7.8 million during the first nine months of FY 2020, which represents 85% Year-On-Year (YoY) increase over the equivalent period in the previous financial year as a result of 134% YoY increase in revenue over the same period. Huejay International Investments PLC has a history of failing to report its financial information within the allocated time period as admitted by its Chairman H.S. Jayakody in the 2017 Annual Report which is incidentally the latest annual report published by the company and has been previously penalised for such failure with trading of its securities suspended on 26 November 2018 for non-submission of interim financial statements. Further, the auditors of the company refused to provide an audit opinion on the 2017 financial statements on the ground that it wasn’t able to obtain sufficient audit evidence.


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