Bursa Malaysia updated its PN17 and GN3 lists on April 9, and a total of 27 companies were blacklisted.

Bursa Malaysia updated its PN17 and GN3 list on April 9, with a total of 27 companies blacklisted.

Before choosing to buy a company’s shares, it is best to avoid buying a company that is listed in PN17 and GN3. The companies listed in PN17 and GN3 are public companies with problems.

PN17 stands for Practice Note 17/2005 and GN3 stands for Guidance Note 3. Companies listed on the Main Market that are facing financial difficulties or have breached certain rules will be categorized under PN17, while companies listed on the Growth Enterprise Market (ACE Market) that are facing financial difficulties or have breached certain rules will be categorized under GN3.

The Malaysian Stock Exchange has clearly stated that companies that have violated certain regulations will be classified as PN17 or GN3 companies.

1. the company’s Total Equity is less than RM40 million and less than 25% of the company’s issued share capital.

2. more than 50% of the company’s total assets will be taken over by someone other than the company or wound up.

3. the Auditor has given an Adverse Opinion or Disclaimer Opinion on the accounts of the Company.

4. The company is unable to pay its debts.

5. the company has no core business.

As of April 9, 2024 there are a total of 27 listed companies listed under PN17 and GN3 companies:

PN17 Companies

1. AGESON BERHAD
2. alam maritim resources berhad
3. asia media group berhad
4. barakah offshore petroleum berhad
5. bertam alliance berhad
6. bintai kinden corporation berhad
7. capita a berhad (forum known as airasia group berhad)
8. e.a.technique (m) berhad
9. e.a.technique (m) berhad (forumly known as konsortium transmissional berhad)
10. fsbm holdings berhad
11. IQZAN HOLDING BERHAD
12. ireka corporation berhad
13. ivory properties group berhad
14. khee san berhad
15. KNM GROUP BERHAD
16. meridian berhad
17. perak corporation berhad
18. PHARMANIAGA BERHAD
19. REACH ENERGY BERHAD
20. RENEUCO BERHAD
21. sapura energy berhad
22. sarawak cable berhad
23. scomi energy services berhad
24. serba dinamik holdings berhad (in liquidation)
25. ZELAN BERHAD

GN3 Company

1. LAMBO GROUP BERHAD
2. waja konsortium berhad