Berjaya Media gets extension on regularisation plan

By Xavier Kong

PN17 firm Berjaya Media Bhd has been granted an extension by Bursa Malaysia to submit its business regularisation plan.

In a Jan 9 bourse filing, the company said it received on Jan 8 approval granting the group an extension until June 20.

On Oct 29 last year, Berjaya Media identified a white knight in the form of Singer (Malaysia) Sdn Bhd, a private vehicle of Berjaya tycoon Tan Sri Vincent Tan Chee Yioun.

But Singer was then embroiled in its own issues with companies commission Suruhanjaya Syarikat Malaysia (SSM) on its audited financial statements, a technical issue which is expected to be resolved by March 31. This would then allow Berjaya Media and Singer to enter a definitive agreement.

Berjaya Media’s shares were last done at 10.5 sen on Nov 4, 2019, when trading in the group’s shares were suspended by Bursa Malaysia.

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