PETALING JAYA: Khee San Bhd
has completed its regularisation plan, marking a key step toward exiting its Practice Note 17 (PN17) status after more than four years under financial distress.
In a filing with Bursa Malaysia and media statement yesterday, the confectionery manufacturer said the milestone follows the implementation of its Employees’ Share Scheme (ESS), with its adviser, M&A Securities Sdn Bhd, confirming compliance with Bursa Malaysia’s listing requirements.
Khee San was classified as a PN17 company in November 2021 after its wholly owned subsidiary, Khee San Food Industries Sdn Bhd, entered judicial management.
The group said the completion of the plan represents “the final and most crucial hurdle” in its restructuring journey and places it on track to regularise its financial condition.
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