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PN17: HB GLOBAL LIMITED OUT OF PRACTICE NOTE 17

14 Oct 2019

Bursa Malaysia Securities Berhad ("Bursa Securities") would like to announce that it has approved HB GLOBAL LIMITED’s (“HBGLOB”) application for a waiver from complying with Paragraph 8.04(3)(a) and Practice Note 17 ("PN17") of the Main Market Listing Requirements of Bursa Securities ("Main Market LR"). The decision was arrived at after taking into consideration all facts and circumstances of the matter including amongst others, that the Company no longer triggers any prescribed criteria under Paragraph 2.1 of PN17 of the Main Market LR, the latest financial position of HBGLOB as at 30 June 2019 including net assets of RM201.3 million and HBGLOB had recorded two (2) consecutive quarters of net profit up to the quarter ended 30 June 2019, which have been subjected to a limited review by an external auditor.

With the waiver being granted, HBGLOB will be uplifted from being classified as a PN17 company effective from 9.00 a.m., Tuesday, 15 October 2019.

Bursa Securities would like to emphasise that it will continue to monitor the progress of PN17 companies in respect of their compliance with the Main Market LR.

Information on companies under PN17

With the upliftment of HBGLOB from the classification as a PN17 company, there are a total of 19 companies under PN17 which represent 2.05% of the total number of 926 companies listed on Bursa Securities as at 14 October 2019.

List of companies under PN17:- 

  1. APFT BERHAD
  2. BARAKAH OFFSHORE PETROLEUM BERHAD
  3. BERJAYA MEDIA BERHAD
  4. BERTAM ALLIANCE BERHAD
  5. BRAHIM’S HOLDINGS BERHAD
  6. CHINA AUTOMOBILE PARTS HOLDINGS LIMITED
  7. COMINTEL CORPORATION BERHAD
  8. DAYA MATERIALS BERHAD
  9. EKA NOODLES BERHAD
  10. KINSTEEL BHD
  11. KUANTAN FLOUR MILLS BERHAD
  12. LONDON BISCUITS BERHAD
  13. MAA GROUP BERHAD
  14. MALAYSIA PACIFIC CORPORATION BERHAD  
  15. MULTI SPORTS HOLDINGS LTD
  16. PERISAI PETROLEUM TEKNOLOGI BHD
  17. SEACERA GROUP BERHAD
  18. SUMATEC RESOURCES BERHAD
  19. TH HEAVY ENGINEERING BERHAD