Thursday 28 Mar 2024
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KUALA LUMPUR (Dec 2): Tile manufacturer Seacera Group Bhd, a Practice Note 17 (PN17) company, has five months until April 25 next year to submit its regularisation plan to the regulatory authorities for approval.

In a bourse filing on Thursday, Seacera said Bursa Securities, via its letter dated Nov 24, had granted the company a further extension of time up to April 25, 2022 to submit the regularisation plan. Failure to do so will see it being delisted from the local stock exchange.

"There is no major development from the previous month's announcement. The company will make the necessary announcement in regard to any latest development on the matter," it added.

At noon market break, Seacera shares were unchanged at 19 sen, bringing a market capitalisation of RM114.41 million.

Seacera fell into PN17 status in April 2019, after it defaulted on a payment of principal and profits to AmBank Islamic Bhd. The group’s total facilities outstanding with AmBank was RM22.15 million at the time.

As at Nov 19, there were a total of 23 companies under PN17 and Guidance Note 3, which represented 2.54% of the total number of 906 companies listed on the Main and ACE Markets of Bursa Malaysia.

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