TPC Plus emerges from PN17 status

PETALING JAYA: Egg production company TPC Plus Bhd will be declassified as a Practice Note 17 (PN17) company effective today.
In a filing with Bursa Malaysia yesterday, TPC Plus said it has regularised its financial condition and level of operations and no longer triggers any of the criteria under Paragraph 2.1 of PN17 of the Main Market listing requirements.
”After due consideration of all facts and circumstances of the matter, Bursa Malaysia Securities Bhd has decided to approve the company's application for an upliftment from being classified as a PN17 company,” it said.
TPL Plus was categorised as a PN17 company after its auditors expressed concern on the group's ability to continue as a going concern in the audited consolidated financial statements for the financial year ended Dec 31, 2012.