The wood-based product maker won't be classified as a PN17 company due to relief measures that would be in effect from April 17,2020 to June 30,2021. (File pic shows a Cymao timber processing factory)
PETALING JAYA: Loss-making Cymao Holdings Bhd, which has triggered the Practice Note 17 (PN17) criteria after its external auditors raised doubts over the group’s going concern, clarified that it will not be classified as a PN17 company.
The wood-based product maker said that it was saved from slipping into PN17 status, thanks to Bursa Malaysia’s PN17 relief measures that would be in effect from April 17,2020 to June 30,2021.
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