Attention all stock investors! Before you choose to buy shares, you may want to avoid companies listed in PN17 and GN3. Companies listed in PN17 and GN3 are questionable listed companies. What exactly are the circumstances that make a company listed in PN17 by Bursa Malaysia?
PN17 refers to Practice Note 17/2005 and GN3 refers to Guidance Note 3. A company on the Main Market will be listed on PN17 if it is in financial difficulty or has breached certain rules, while a company on the ACE Market will be listed on GN3 if it is in financial difficulty or has breached certain rules.
Bursa Malaysia currently provides that companies that violate certain rules will be classified as PN17 or GN3 companies.
1. The total equity of the company (Total Equity) is less than RM40 million and is less than 25% of the company’s issued share capital (Share Capital).
2. More than 50% of the total assets of the company will be taken over by a person other than the company, or wound up.
3. The auditor has given an adverse opinion or disclaimer of opinion on the accounts of the company.
4. The company is unable to pay its debts
5. The company has no core business
As at 31 October 2021, a total of 22 listed companies are included in PN17 and GN3.
PN17 Companies
1. AIRASIA X BERHAD
2. ASIA MEDIA GROUP BERHAD
3. BARAKAH OFFSHORE PETROLEUM BERHAD
4. BERTAM ALLIANCE BERHAD
5. BRAHIM’S HOLDINGS BERHAD
6. CHINA AUTOMOBILE PARTS HOLDINGS LIMITED
7. COMINTEL CORPORATION BERHAD
8. DAYA MATERIALS BERHAD
9. DOLOMITE CORPORATION BERHAD
10. FSBM HOLDINGS BERHAD
11. IQZAN HOLDING BERHAD (FORMERLY KNOWN AS IRE-TEX CORPORATION BERHAD)
12. KONSORTIUM TRANSNASIONAL BERHAD
13. MALAYSIA PACIFIC CORPORATION BERHAD
14. NATIONWIDE EXPRESS HOLDINGS BERHAD
15. PERAK CORPORATION BERHAD
16. SCOMI ENERGY SERVICES BERHAD
17. SCOMI GROUP BERHAD
18. SEACERA GROUP BERHAD
19. SUMATEC RESOURCES BERHAD
20. TH HEAVY ENGINEERING BERHAD
GN3 Companies
1. G NEPTUNE BERHAD
2. IDIMENSION CONSOLIDATED BERHAD
