KUALA LUMPUR (Jan 6): AsiaEP Resources Bhd will be uplifted from being classified as a Guidance Note 3 (GN3) company on Monday, following completion of its regularisation plan, which involves a reverse takeover by GFM Services Bhd.

GFM Services will assume listing status of AsiaEP on Monday. 

In a filing with Bursa Malaysia today, AsiaEP said it has regularised its financial condition and level of operations, and no longer triggers any criteria under paragraph 2.1 of GN3 of the ACE Market listing requirements.

GFM Services is principally engaged in the provision of facilities operation, maintenance, and management and engineering services.

Upon listing, GFM Services’ reference price is 38 sen per share, with upper and lower limits of trading price on the first day of listing between 68 sen and eight sen.

Trading in AsiaEP shares has been suspended since September 2012.

In a separate statement today, Bursa Securities said with the upliftment of AsiaEP from the classification as a GN3 company, there are a total of five companies under GN3 which represent 0.55% of the total number of 904 companies listed on Bursa Malaysia as at Jan 6, 2017.

They are Cybertowers Bhd, Diversified Gateway Solutions Bhd, R&A Telecommunication Group Bhd, Scan Associates Bhd and Wintoni Group Bhd.