PETALING JAYA: MAA Group Bhd has had its Practice Note 17 (PN17) status lifted after receiving a waiver from Bursa Malaysia Securities from complying with Paragraph 8.04(3)(a) of the Main Market listing requirements.
Bursa disclosed that the decision was arrived at after taking into consideration that the group no longer triggers any prescribed criteria under Paragraph 2.1 of the Main Market listing requirement.
Furthermore, the bourse pointed out that MAA’s latest financial position as at Dec 31, 2020 reported net assets of RM533.01 million and it has also recorded three consecutive quarters of net profit.
With the waiver, the listed issuer will be lifted from its PN17 status on Friday.
On that note, Bursa reiterated that it will continue to monitor the progress of PN17 issuers and companies affected by Guidance Note 3 (GN3) in respect of their compliance with the Main Market And ACE Market listing requirements.
As at March 25, 2021, the bourse disclosed, there were 21 companies under PN17 and GN3 status, which translates into 2.25% of the total number of 934 companies listed on the Main and ACE Markets of Bursa Securities.
