PETALING JAYA: Bursa Securities has dismissed Berjaya Media Bhd’s (BMedia) further appeal for an additional six months up to Dec 20, 2020 to submit its regularisation plan to the relevant authorities for approval.
In a Bursa filing, the company said the market regulator has therefore decided to delist the company on July 17.
To recap, Berjaya Media had on June 17 had submitted a request to seek a further extension of time to submit its regularisation plan.
Prior to that, on Jan 9, the group said it had been given an extension until June 20 this year to submit its plan.
The Practice Note 17 company had previously 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.
However, on June 12, BMedia said it had aborted the proposed acquisition of Singer, and was also assessing the economic impact on the existing business of BMedia and its subsidiaries in view of the challenging economic environment and the uncertainties surrounding the Covid-19 pandemic.
