Bursa Malaysia to continue monitoring Sapura Energy listing requirements compliance progress

KUALA LUMPUR (June 1): Bursa Malaysia will continue to monitor the progress of Sapura Energy Bhd in respect of its compliance with the Main Market Listing Requirements.

“Bursa Malaysia would like to emphasise that it will continue to monitor the progress of Sapura Energy in respect of its compliance with the Main Market Listing Requirements,” it said in a statement on Wednesday (June 1).

On Tuesday (May 31), Sapura Energy announced that it has triggered the prescribed criteria pursuant to the Listing Requirements under Practice Note 17 (PN17), taking steps to regularise its business through a reset plan launched in the financial year ended Jan 31, 2022 (FY2022).

Sapura Energy’s board of directors has created a Board Restructuring Task Force in December 2021 to strengthen its management and governance functions and took a major step towards restructuring its debts in a fair and orderly manner through negotiations with its creditors, after obtaining court orders to begin the scheme of arrangement (SOA) process in March 2022.

Bursa Malaysia said that as of June 1, there are a total of 28 companies under PN17 and Guidance Note No. 3 (GN3), which represent 3.02% of the total number of 928 companies listed on the Main and ACE Markets.

The list of companies under PN17 are AirAsia X Bhd, Asia Media Group Bhd, Barakah Offshore Petroleum Bhd, Bertam Alliance Bhd, Brahim’s Holdings Bhd, Capital A Bhd, China Automobile Parts Holdings Ltd, Comintel Corporation Bhd, Dolomite Corporation Bhd, E.A. Technique (M) Bhd, FSBM Holdings Bhd, Iqzan Holding Bhd, Ireka Corporation Bhd, Jerasia Capital Bhd, Khee San Bhd, Konsortium Transnasional Bhd, Malaysia Pacific Corporation Bhd, Perak Corporation Bhd, Propel Global Bhd, Sapura Energy Bhd, Scomi Energy Services Bhd, Scomi Group Bhd, Seacera Group Bhd, Serba Dinamik Holdings Bhd, TH Heavy Engineering Bhd and Top Builders Capital Bhd.

The list of companies under GN3 are G Neptune Bhd and Idimension Consolidated Bhd.