Bursa Securities to delist Scomi on March 31

PETALING JAYA: Bursa Malaysia Securities Bhd (Bursa Securities) has decided to delist Scomi Group Bhd this Friday following its failure to settle a sum of RM8 million owed to Malayan Banking Bhd (Maybank).

In a filing today, Bursa Securities said it had rejected today Scomi’s request to vary the terms of the condition for the company to settle/pay the settlement sum of RM8 million to Maybank on or before March 15, 2023 as stipulated in its letter dated Feb 13 2023.

The stock exchange regulator also dismissed the Practice Note 17 (PN17) company’s appeal for a further six months extension of time to submit its regularisation plan to the relevant authorities, and decided to delist it pursuant to paragraph 8.04 of Bursa Securities Main Market Listing Requirements.