SC Annual Report 2020: 13 companies benefit as regulator suspends PN17 and GN3 classification

SC Annual Report 2020: 13 companies benefit as regulator suspends PN17 and GN3 classification

The Edge Markets - Malaysia·2021-03-19 05:05

KUALA LUMPUR (March 18): Thirteen companies that are categorised as Practice Note 17 (PN17) and Guidance Note 3 (GN3) status last year have benefitted from Bursa Malaysia’s relief.

For companies that were already categorised as GN3 and PN17 that did not meet the suspension relief criteria or did not have an adequate level of operations as prescribed in existing regulations between Jan 2, 2019 and Dec 31, 2020, Bursa Malaysia has extended the timeframe for submission of a regularisation plan to 24 months, from 12 months previously, from the date they first slipped into PN17 or GN3 status. Seventeen PN17 and GN3 companies have benefited from this measure.

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