Pharmaniaga exits PN17 status

KUALA LUMPUR: Pharmaniaga Bhd will be uplifted from Practice Note 17 (PN17) status effective March 17 after regularising its financial condition.

In a statement, Bursa Malaysia Securities Bhd said the uplift will take effect at 9am on Tuesday, as the pharmaceutical group no longer triggers any of the criteria under Paragraph 2.1 of PN17 under the Main Market Listing Requirements.

Bursa Securities added that it will continue to monitor the progress of PN17 and Guidance Note 3 (GN3) companies to ensure compliance with the Main Market and ACE Market listing requirements.

As at March 10, a total of 13 companies were classified under PN17 on Bursa Malaysia, while four were under GN3.