The firm said that the information included in its QPR are of a “highly confidential and sensitive nature”.
Ramba Energy has requested for a Qualified Person's Report (QPR) waiver to SGX as well as an extension of time to 31 May 2019 for the Company to convene the annual general meeting, according to a filing in SGX.
The firm cited a bulk of information that are required to be in the QPR are of a “highly confidential and sensitive nature” and could serve little purpose to its shareholders.
“[T]he cost of including the QPR in the Annual Report with the added logistics, time and resources required would be significant to the company. Furthermore, the potential costs,
repercussions and prejudice to the interest of the Company and its shareholders out-weigh
the benefit of including the information required to be disclosed by the company,” Ramba added in the SGX filing.
Ramba requested for an extension of time to enable its auditors Ernst & Young Indonesia to complete audit for the FY2018 financial results.
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