PETALING JAYA: Epicon Bhd (formerly Konsortium Transnasional Bhd) has regularised its financial condition and no longer triggers any of the criteria under Paragraph 2.1 of PN17 of the Main Market Listing Requirements of Bursa Securities.
“After due consideration of all facts and circumstances of the matter, Bursa Malaysia Securities Bhd has decided to approve the company’s application for an upliftment from being classified as a PN17 company,” Epicon said in a filing with the local bourse.
Epicon said it will be uplifted from being classified as a PN17 company effective from 9am, tomorrow.
PN17 is a practice note that is issued by Bursa Malaysia in relation to listed issuers that are in financial distress.
In its latest annual report, Epicon said it had submitted an application to Bursa Securities on March 6, 2024 for its upliftment from being classified as a PN17 public listed company.
“Epicon’s current positive financial performance fulfils the main criteria required for the upliftment. Once the PN17 status is lifted, Epicon will be able to propel its construction business further with wider access to bank financing,” it said.