In a Bursa Malaysia filing today, the exchange said the delisting followed its rejection of the company’s appeal for an extension period to submit its regularisation plan for approval.

“Upon delisting, the company will continue to exist as an unlisted entity and proceed with its operations and corporate restructuring. Its shareholders can still benefit from its performance.

“However, shareholders will hold shares that are no longer quoted and traded on Bursa Securities,” it said.

It was reported that the company was classified as a PN17 company in February 2024 after its auditors stated they were unable to obtain sufficient evidence to form a basis for an audit opinion on the group’s financial statements, particularly concerning the accuracy of its trade receivables, payables, revenue and cost of sales.