PN17 company Seacera says deadline extended to April 24 for it to submit regularisation plan

TheEdge Fri, Dec 09, 2022 01:48pm - 3 months View Original

KUALA LUMPUR (Dec 9): Tile manufacturer Seacera Group Bhd, a Practice Note 17 (PN17) company, has until April 24 next year to submit its regularisation plan to the regulatory authorities for approval.

In a bourse filing on Friday (Dec 9), Seacera said Bursa Securities, via a letter on Thursday, had granted the company the further extension of time, while failure to do so will see it being delisted from the local stock exchange.

At the noon break, Seacera had fallen 3.13% or half a sen to 15.5 sen apiece, with 350,000 shares traded.

Seacera fell into PN17 status in April 2019, after it defaulted on a payment of principal and profits to AmBank Islamic Bhd. The group’s total facilities outstanding with AmBank were RM22.15 million at the time.

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