Transmile shares suspended in Malaysia

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The shares of financially troubled Malaysian freight carrier Transmile has been suspended from trading on the country's stock exchange.

The airline submitted an appeal today to the stock exchange, which has said it plans to delist the airline from 7 March if it does not file an appeal by the end of today. Transmile had earlier failed to submit its financial regularisation plan to the stock exchange by 22 February.

The delistment of the airline's shares has now been deferred while the stock exchange considers the appeal.

Transmile has been struggling to repay its debt since an accounting scandal broke out at the company in 2007.