Bursa Securities rejects Scomi Energy PN17 waiver appeal

In a move to show that it was still viable, Scomi Energy announced progress in its next generation green products for drilling services with a potential market expansion into China. As at December 2019, Scomi Energy has an order book of US$272mil (RM1.11bil).

KUALA LUMPUR: Bursa Malaysia Securities has rejected Scomi Energy Services Bhd's waiver appeal from being designated as a Practice Note 17 (PN 17) due to concerns about the outlook of the company.

Bursa Securities had on Tuesday rejected the application on concerns about the company's sustainability and growth potential of the existing/remaining business, and the ability to generate sufficient revenue and thus profitability.