MAA Group uplifted from PN17 status


Bursa Securities said it also took into account MAA’s latest financial position as of Dec 31,2020, including net assets of RM533.01mil, and that the general insurer had recorded three consecutive quarters of net profit up to the quarter ended Dec 31,2020.

KUALA LUMPUR: MAA Group Bhd will be uplifted from being classified as a Practice Note 17 (PN17) company effective from today.

This follows Bursa Malaysia Securities Bhd’s (Bursa Securities) approval of the insurance group’s application for a waiver from complying with Paragraph 8.04(3)(a) and PN17 of the Main Market Listing Requirements (Main Market LR).

“The decision (by Bursa Securities) was arrived at after taking into consideration all facts and circumstances of the matter including, amongst others, that the company no longer triggers any prescribed criteria under Paragraph 2.1 of PN17 of the Main Market LR, ” the regulator said in a statement yesterday.

Bursa Securities said it also took into account MAA’s latest financial position as of Dec 31,2020, including net assets of RM533.01mil, and that the general insurer had recorded three consecutive quarters of net profit up to the quarter ended Dec 31,2020. The results have been subjected to a limited review by an external auditor. — Bernama

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

PN17 , Bursa , MAA Group ,

   

Next In Business News

Fintech a key enabler in economic recovery
Ringgit opens lower on absence of market catalysts
Quick take: GUH shares hit highest in over three years
Bursa remains weak as Budget jitters weigh
Quick take: Genetec rises after on bonus issue, higher earnings
Malindo Air downsizing shakes things up
Trading ideas: Serba Dinamik, PetGas, Annum, Southern Cable, Cabnet
SIRIM Trusted Mark: Building credibility in the online marketplace
Oil prices reach multi-year highs on tight supply
Tesla zooms past US$1 trillion market cap on bet that the EV future is now

Others Also Read


Vouchers