Brahim's to be delisted on June 3

- File pic

KUALA LUMPUR: Brahim's Holdings Bhd will be delisted from Bursa Malaysia on June 3, 2022.

The Practice Note 17 (PN17), in a Bursa filing, said Bursa Malaysia Securities Bhd had dismissed its appeal for an extension of time to submit the regularisation plan to the relevant authorities for approval and decided to de-list the company pursuant to paragraph 8.04 of the Bursa Securities Main Market Listing Requirements.

ALSO READ: Brahim's submits appeal against delisting of its securities

The securities of the company shall be removed from the official list of Bursa Securities on June 3.

Upon the de-listing of the company, the company will continue to exist but as an unlisted entity. The company is still able to continue its operations and businesses and proceed with its corporate restructuring and its shareholders can still be rewarded by the company’s performance.

However, the shareholders will be holdings shares which are no longer quoted and traded on Bursa Securities.

Meanwhile, Brahim’s net loss narrowed to RM4.85mil in the first quarter ended March 31 from RM6.92mil a year ago.

Revenue, however, jumped 126.54% to RM16.19mil compared with RM7.15mil registered in the same quarter last year.

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