FSBM Holdings Bhd is the last company in 2019 to join the list of Practice Note 17 companies as the year draws to a close.
According to Bursa Malaysia, FSBM, which is an information technology service and systems provider, triggered the criteria pursuant to Paragraphs 8.04 and 2.1(d) of PN17, wherein the auditors have expressed a disclaimer opinion in the listed issuer’s latest audited financial statements for the financial year ended June 30, 2018.
The delay in reporting its 2018 financials had already led to the company being slapped with a trading suspension on Nov 9, 2018, where its shares were last done at 9.5 sen.
FSBM says in its Bursa filing that it is looking into formulating a regularisation plan to address its PN17 status and will make the necessary announcement on such a plan in due course.
As the year closes, FSBM brings the total number of PN17 companies to 23, or 2.5% of the total number of 929 companies listed on Bursa Malaysia.
The PN17 companies include Barakah Offshore Petroleum Bhd, Berjaya Media Bhd, Brahim’s Holdings Bhd, Kinsteel Bhd, Perisai Petroleum Teknologi Bhd, Scomi Group Bhd, Seacera Group Bhd, Sumatec Resources Bhd and TH Heavy Engineering Bhd.
