PETALING JAYA: Reneuco Bhd
is facing possible suspension and eventual delisting after Bursa Malaysia denied its request for additional time to submit its regularisation plan.
In a filing, the Practice Note 17 (PN17) company said it will be delisted on April 16 unless it files an appeal by April 13. Any appeal submitted after the deadline will not be considered.
If the company submits an appeal within the appeal timeframe, the delisting of its securities on April 16 will be deferred pending the outcome of the appeal.
However, Bursa Malaysia will proceed to suspend trading of its securities on April 14, even while the appeal decision is still pending.
Reneuco fell under PN17 in February 2024 after its auditors said they could not obtain sufficient evidence to form a basis for an audit opinion on the group’s financial statements.
