Meridian falls under PN17

KUALA LUMPUR: Meridian Bhd has been admitted into the Practice Note 17 (PN17) company of Bursa Malaysia.

“The PN17 criteria is triggered as the auditors have expressed a disclaimer of opinion in the company’s audited financial statements for the financial period ended Nov 30, 2023 which was announced on April 5, 2024,” the property company said in a filing with Bursa Malaysia.

Its auditor Jamal, Amin & Partners said the disclaimer of opinion was issued as the firm had not been able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion on these financial statements.

“The company is looking into formulating a regularisation plan to address its PN17 status. The company will make the necessary announcement on the regularisation plan in due course,” Meridian said.