PETALING JAYA: Khee San Bhd
has completed its regularisation plan, marking a key step toward exiting its Practice Note 17 (PN17) status after more than four years under financial distress.
In a bourse filing and media statement yesterday, the confectionery manufacturer said the milestone follows the implementation of its Employees’ Share Scheme (ESS), with its adviser, M&A Securities Sdn Bhd, confirming compliance with Bursa Malaysia’s listing requirements.
Khee San was classified as a PN17 company in November 2021 after its wholly owned subsidiary, Khee San Food Industries Sdn Bhd, entered judicial management. The group said the completion of the plan represents “the final and most crucial hurdle” in its restructuring journey and places it on track to regularise its financial condition.
Managing director Yong Loong Chen described the development as transformative for the group.
“The completion of our regularisation plan is a monumental achievement for Khee San. Today, the Group stands well-positioned to reclaim its position as a market leader in the confectionery industry,” he said.
He added that the company will now focus on driving sustainable profitability, innovating our product offerings, and delivering long-term value to its stakeholders as it moves closer to exiting PN17 status.
Khee San, known for its heritage candy brands, said the successful restructuring signals the start of a new phase, with efforts now centred on strengthening operations and rebuilding its position in both domestic and international markets.
