KUALA LUMPUR (Aug 20): Practice Note 17 (PN17) entity Petrol One Resources Bhd said it has submitted an appeal to Bursa Malaysia Securities against the latter’s decision to delist its securities from the Main Market of the local bourse.

In an exchange filing today, Petrol One said the appeal was submitted to Bursa Securities today against the suspension and delisting of its securities, which was initially slated for this Friday (Aug 24).

“Given that the appeal was submitted within the appeal timeframe (by Aug 20), the removal of the securities of the company from the official list of Bursa Securities on Aug 24 shall be deferred, pending decision by Bursa Securities on the appeal,” the bunkering and storage company which offers advisory services for floating storage and offloading operation, said.

On Aug 13, Bursa Securities arrived at the decision based on the company’s failure to implement its regularisation plan by Aug 11, despite being granted numerous extensions after it lapsed into the PN17 status in August 2012.

Trading of Petrol One shares has been suspended since 2014.