KUALA LUMPUR, Nov 1 — Bursa Malaysia Securities Bhd has granted Capital A Bhd an extension of time until December 31, 2023 to submit its regularisation plan to the relevant regulatory authorities.

Capital A fell into the Practice Note 17 (PN17) list of Bursa Securities, a categorisation for distressed entities, in January 2022.

Bursa Malaysia had previously granted Capital A with an extension of three months until October 7 to submit its regularisation plan.

In a filing with Bursa Malaysia today, Capital A said the extension was without prejudice to Bursa Securities’ right to proceed to suspend the trading of listed securities of the company and to delist in the event the company failed to submit its regularisation plan to the regulatory authorities on or before December 31, 2023.

"The trading of the company’s listed securities would be suspended if it failed to obtain the approval from any of the regulatory authorities necessary to implement its regularisation plan or failed to implement its regularisation plan within the time frame or extended time frame stipulated by any of the regulatory authorities,” said the filing.

Upon the occurrence of any of the events set out in, Bursa Securities shall suspend the trading of the listed securities of the company on the sixth market day after the date of notification of suspension by Bursa Securities and delist the Capital A, subject to the company’s right to appeal against the delisting. — Bernama