PETALING JAYA: Berjaya Media Bhd (BMedia) has been granted an extension of time by Bursa Malaysia Securities Bhd until June 20, 2020 to submit its regularisation plan.
BMedia had on Oct 31, 2019 appealed to Bursa Securities against the delisting of its securities. Trading in the securities of BMedia was suspended with effect from Nov 5, 2019.
The Practice Note 17 company had revealed that Singer (Malaysia) Sdn Bhd, a private company owned by its major shareholder Tan Sri Vincent Tan Chee Yioun, is its white knight. Singer is to be injected into BMedia pursuant to its regularisation plan.
Singer is involved in the business of selling and marketing of consumer durable products and motorcycles through instalment option schemes via its nationwide distribution network of about 485 shops with 3,000 sales associates.
It recorded an average annual pro-forma profit after tax of RM37.6 million for the past three financial years ended Dec 31, 2018 and net assets/shareholder’s fund of RM525.7 million as at Dec 31, 2018.
