Cannot run macro when timer is placed.

I'm facing a bit of a bind with my macro in VBA Excel. Previously I have a macro that can extract data from another closed Excel sheet (or one that is opened in a different instance). I placed the code in 'ThisWorkbook' in VBA:

Option Explicit

Private Sub Workbook_Open()
    Call ReadDataFromCloseFile
End Sub

Sub ReadDataFromCloseFile()
    On Error GoTo ErrHandler
    Application.ScreenUpdating = False
   
    Dim src As Workbook
   
    ' OPEN THE SOURCE EXCEL WORKBOOK IN "READ ONLY MODE".
    Set src = Workbooks.Open("C:\Users\mys710048\Documents\EXCEL MONITORING FILE.xlsx", True, True)
   
    ' GET THE TOTAL ROWS FROM THE SOURCE WORKBOOK.
    Dim iTotalRows As Integer
    iTotalRows = src.Worksheets("INFO JPN MOTOR").Range("A1:A" & Cells(Rows.Count, "A").End(xlUp).Row).Rows.Count
   
    ' COPY DATA FROM SOURCE (CLOSE WORKGROUP) TO THE DESTINATION WORKBOOK.
    Dim iCnt As Integer         ' COUNTER.
    For iCnt = 1 To iTotalRows
        Worksheets("Sheet1").Range("A1:W1" & iCnt).Formula = src.Worksheets("INFO JPN MOTOR").Range("A1:W1" & iCnt).Formula
    Next iCnt
   
    ' CLOSE THE SOURCE FILE.
    src.Close False             ' FALSE - DON'T SAVE THE SOURCE FILE.
    Set src = Nothing
       
ErrHandler:
    Application.EnableEvents = True
    Application.ScreenUpdating = True
   
End Sub

Now I like to add a timer which will refresh the data every one minute. I placed the code in my Workbook_Open sub:

Private Sub Workbook_Open()
    Call ReadDataFromCloseFile
    Application.OnTime Now + TimeValue("00:01:00"), "ReadDataFromCloseFile"  'Included recently'
End Sub

However, when doing so I receive an error message 1 minute later saying "Cannot run the macro ...The macro may not be available in the workbook or all marcros may be disabled." Which is clearly not the case considering I got it running before I placed the timer. And yes I did save it as xlsm format. Any solutions to this mess?