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PN17, GN3 firms may get extended period to submit plan
KUALA LUMPUR: Bursa Malaysia Bhd will consider granting a further extension of time for companies, which triggered the criteria of Practice Note 17 (PN17) and Guidance Note 3 (GN3) from Jan 2,2019 to Dec 31,2020, to enable them to submit their regularisation plans to the Securities Commission (SC) or the exchange after the 24-month grace period.
PETALING JAYA: Loss-making Cymao Holdings Bhd, which has triggered the Practice Note 17 (PN17) criteria after its external auditors raised doubts over the group’s going concern, clarified that it will not be classified as a PN17 company.
KUALA LUMPUR: Cymao Holdings Bhd triggered the criteria under Practice Note 17 (PN17) of the Main Market listing rules after its external auditors, Messrs PKF, raised uncertainties about the company's ability to continue as a going concern.
KUALA LUMPUR: Stocks to watch on Thursday include AirAsia Group Bhd, Sime Darby Plantation Bhd, Muar Ban Lee Group Bhd, Cymao Holdings Bhd and Nationwide Express Holdings Bhd, according to JF Apex Research.
KUALA LUMPUR: Cymao Holdings Bhd is selling its loss-making laminated products business to managing director Lin Kai-Min for RM9.1mil.
KUALA LUMPUR: Golden Pharos Bhd, the Terengganu government-owned integrated timber company, has formed a joint venture (JV) to start reforestation and set up an industrial forest plantation to address the problem of dwindling local raw material supply.
PETALING JAYA: Cymao Holdings Bhd told Bursa Malaysia yesterday that subsidiary Syabas Mujur Sdn Bhd has won a log extraction licence issued by the Forestry Department of Sabah to harvest commercial timber at a 5,454-ha site in Bonggaya forest reserve in Sandakan.