KUALA LUMPUR (Aug 8): Pertama Digital Bhd is seeking a 12-month extension of time until Aug 9, 2024 to submit its regularisation plan to the relevant authorities.

The application for the extension was submitted to Bursa Malaysia Securities on Tuesday (Aug 8), the digital services provider said in a filing.

In August last year, Pertama Digital, formerly known as Sinotop Holdings Bhd, triggered paragraph 8.03A(2)(a)(b) of the Main Market Listing Requirements after selling its China-based textile subsidiary Be Top Group Ltd for RM70 million, with the aim of becoming a pure-play digital services provider.

The paragraph stipulates that a listed issuer may not have a level of operations that is adequate to warrant continued trading or listing if it has an insignificant business or operations.

Pertama Digital owns and operates a mobile application known as MyPay which consolidates the e-services of Malaysian government agencies into a single digital platform. It also owns and operates a website app known as eJamin which allows users to make payment electronically for criminal courts bails.

Shares in Pertama Digital finished two sen or 0.64% lower at RM3.12 on Tuesday, giving the company a market capitalisation of RM1.37 billion. The stock has appreciated 78.29% from RM1.75 since early this year.