Bursa Malaysia updated the PN17 and GN3 lists on May 2, with a total of 26 companies included in the list.
Before choosing to buy a company’s shares, it is best to avoid companies listed in PN17 and GN3. Companies included in PN17 and GN3 are problematic listed companies.
The so-called PN17 is the abbreviation of Practice Note 17/2005, and GN3 is the abbreviation of Guidance Note 3. Main Market-listed companies that face financial difficulties or violate specific regulations will be listed in the PN17 category, while ACE Market-listed companies that face financial difficulties or violate specific regulations will be listed in the GN3 category.
Bursa Malaysia clearly stipulates that any company that violates certain regulations will be listed as a PN17 or GN3 company.
1. The company’s total equity (Total Equity) is less than RM40 million, which is also less than 25% of the company’s issued share capital (Share Capital).
2. More than 50% of the company’s total assets will be taken over by people outside the company, or liquidated.
3. The auditor holds an adverse opinion (Adverse Opinion) or is unable to express an opinion (Disclaimer Opinion) on the company’s accounts.
4. The company cannot pay its debts.
5. The company has no core business.
As of May 2, 2024, a total of 26 listed companies have been included in PN17 and GN3 companies:
PN17 Companies
AGESON BERHAD
ALAM MARITIM RESOURCES BERHAD
ASIA MEDIA GROUP BERHAD
BARAKAH OFFSHORE PETROLEUM BERHAD
BERTAM ALLIANCE BERHAD
BINTAI KINDEN CORPORATION BERHAD
CAPITAL A BERHAD (FORMERLY KNOWN AS AIRASIA GROUP BERHAD)
E.A.TECHNIQUE (M) BERHAD
FSBM HOLDINGS BERHAD
IQZAN HOLDING BERHAD
IREKA CORPORATION BERHAD
IVORY PROPERTIES GROUP BERHAD
KHEE SAN BERHAD
KNM GROUP BERHAD
MERIDIAN BERHAD
PERAK CORPORATION BERHAD
PHARMANIAGA BERHAD
REACH ENERGY BERHAD
RENEUCO BERHAD
SAPURA ENERGY BERHAD
SARAWAK CABLE BERHAD
SCOMI ENERGY SERVICES BERHAD
SERBA DINAMIK HOLDINGS BERHAD (IN LIQUIDATION)
ZELAN BERHAD
GN3 Company
LAMBO GROUP BERHAD
WAJA KONSORTIUM BERHAD
