Clive Palmer says he has no idea why a company holding $7 million of his wealth has failed to publish its full-year financial accounts in the allocated time.
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Mr Palmer's Australasian Resources was one of 19 companies suspended by the Australian Securities Exchange on Wednesday.
Mr Palmer and his private company Mineralogy collectively own almost 70 per cent of Australasian Resources, which has a market capitalisation of $10 million.
Australasian holds undeveloped iron ore and nickel tenements, and is the company Mr Palmer's political ally and Western Australian senator Dio Wang was in charge of before his resignation in May.
Mr Palmer said on Wednesday he was unaware of the suspension before being informed by Fairfax Media.
"I don't know anything about Australasian Resources," he said. "I'm not in business any more, you need to ring the company, ring the chairman."
When asked if he, as major shareholder, was concerned by the company's suspension, Mr Palmer said: "Well, I don't know what has happened, I'm in Parliament so I've got no idea."
Australasian Resources had its busiest day of trading in four years on September 2, when more than 1 million shares were traded.
The outcome was a rise in the stock price by one-tenth of a cent.
Australasian's newly appointed company secretary Mark Oliver said the company was working through some issues with auditors and should be able to publish annual accounts shortly.
Other companies to be suspended include Fairstar Resources, the tiny mining aspirant that, like Padbury Mining, was involved in funding talks with controversial Sydney man Roland Bleyer.
Meanwhile, Mr Palmer brushed off reports he may face a rebellion from Senators Wang and Jacqui Lambie over the deal the Palmer United Party (PUP) has struck with the Coalition on winding back Labor's Future of Financial Advice (FOFA) reforms.
"I don't know anything about it," Mr Palmer said.
"I don't know anything about those problems."
When asked if he had met with Mr Wang and Ms Lambie on Wednesday to discuss the problems, Mr Palmer said "I have meetings every day with them."
Meanwhile government insiders insist they are not concerned about rumours of turmoil within the PUP and are confident that its changes to financial advice laws will continue to enjoy the support of the senate, just as they did when they were last put to a vote in the senate.
