PETALING JAYA: Berjaya Media Bhd (BMedia) has been granted an extension of time up to June 20, 2019 to submit a regularisation plan to Bursa Malaysia.
In a filing with Bursa Malaysia, the company said that Bursa Malaysia had granted the extension vide its letter dated Jan 7, 2019. The regularisation plan is to address its Practice Note 17 status.
Bursa Malaysia has the right to suspend the trading of BMedia’s listed securities and to de-list the company if it fails to submit a regularisation plan on or before June 20, 2019; fails to obtain approval for the implementation of the regularisation plan; or fails to implement the plan within the stipulated time frame.
Earlier, Berjaya Corp Bhd founder and executive chairman Tan Sri Vincent Tan Chee Yioun had said that a profitable private company will be injected into BMedia as part of its regularisation plan.
