MMM Group to be suspended Aug 7, faces delisting in September

PETALING JAYA: MMM Group Bhd (formerly Asia Media Group Bhd) said trading in its shares will be suspended from Aug 7, after Bursa Malaysia Securities rejected its proposed regularisation plan.

In a filing with Bursa Malaysia, the PN17 company said it will be delisted on Sept 4 unless an appeal against the rejection of the proposed regularisation plan and de-listing is submitted to Bursa Securities on or before Aug 29.

“In the event the company submits an appeal to Bursa Securities within the appeal timeframe, the delisting of the securities of the company from the official list of Bursa Securities on Sept 4 will be deferred pending the decision on the company’s appeal.

“However, Bursa Securities will proceed to suspend the trading of the company’s securities on Aug 7 even though the decision on the company’s appeal is still pending.”

The company slipped into PN17 status in October 2019 after its shareholders’ equity fell to less than 25% of its issued capital.