PETALING JAYA: Majuperak Holdings Bhd
, a subsidiary of the Perak State Development Corp (PKNPk), is no longer classified as an affected listed issuer by Bursa Malaysia with immediate effect.
In a statement, PKNPk said this was crucial in the company’s recovery journey, as it reflects the effectiveness of the restructuring and strengthening measures that have been implemented by the management of Majuperak over the past few years.
“PKNPk believes that this achievement not only marks the recovery of the company’s status at the capital market level but also proves Majuperak’s ability to continue moving forward with stronger and more sustainable financial fundamentals, governance and business direction.
“Throughout its recovery period, Majuperak has deployed various improvement initiatives in a disciplined and responsible manner, including strengthening operational management, improving corporate compliance levels and streamlining business strategies to ensure the company’s long-term viability.”
The chief executive of PKNPk and executive chairman of Majuperak, Datuk Redza Rafiq Abdul Razak, said the upliftment of Majuperak’s status from the affected listed issuer simultaneously lifted all doubts about the company’s future as one of PKNPk’s strategic engines in driving the development and economic growth of the State of Perak.
“Furthermore, this achievement proves that with a clear direction, management commitment and support from all stakeholders, Majuperak is able to return to a more positive and competitive track,” he said.
