Ireka classified as PN17 company

Foreign funds continue to buy Malaysian stocks on the back of booming commodity prices, especially crude oil and crude palm oil. Malaysia is a net exporter of both commodities.

KUALA LUMPUR: Ireka Corp Bhd has become the latest company to be classified as an affected listed issuer under Practice Note 17 (PN17) of the Main Market Listing Requirements.

In a filing with Bursa Malaysia yesterday, the construction and property developer said it had triggered the prescribed criteria under Paragraph 2.1(e) of the PN17 and that Bursa Malaysia Securities Bhd had rejected its application to extend the relief period, which ended on Feb 26.