Reneuco Faces Suspension, Delisting As Bursa Rejects Extension To Submit Regularisation Plan
KUALA LUMPUR, April 6 (Bernama) -- Reneuco Bhd is facing the risk of suspension and subsequent delisting after Bursa Malaysia Securities Bhd rejected its application for a further extension of time to submit its regularisation plan.
In a Bursa Malaysia filing today, Reneuco said its securities will be suspended from April 14, with delisting set for April 16, unless an appeal is submitted to Bursa Securities on or before April 13.
“Any appeal submitted after the appeal timeframe will not be considered by Bursa Securities,” it said.
Reneuco said that if an appeal is submitted within the appeal timeframe, the delisting of the company’s securities will be deferred pending the decision.
“However, Bursa Securities will proceed to suspend the trading of the company’s securities on April 14, 2026, even though the decision on the company’s appeal is still pending,” it said.
Reneuco added that the company will submit an appeal to Bursa Securities against the decision to suspend and subsequently delist the company’s securities.
The energy and utilities construction company was classified as a PN17 company in February 2024 after its auditors stated they were unable to obtain sufficient evidence to form a basis for an audit opinion on the group’s financial statements, particularly concerning the accuracy of its trade receivables, payables, revenue and cost of sales.
-- BERNAMA