BURSA MALAYSIA SECURITIES BERHAD PN17 RELIEF MEASURES RESULTING IN M&G TRIGGERING SUSPENDED CRITERIA BUT NOT CLASSIFIED AS A PN17 LISTED ISSUER
On 22 September 2020, the Company announced that on 31 July 2020, the Company has triggered the prescribed criteria pursuant to Paragraph 8.04 and Paragraph 2.1(a) of Practice Note 17 (“PN17”) of the Main Market Listing Requirements of Bursa Securities (“MMLR”) where M&G’s shareholders’ equity on a consolidated basis is less than 25% of the share capital and such shareholders’ equity is less than RM40 million. The ratio of M&G’s shareholders’ equity on a consolidated basis as at financial ended 31 July 2020 is 9.7% and such shareholders’ equity is RM26.1 million. In addition, the Company further announced that an indirect subsidiary, JMM, has completed a debt restructuring with its Lenders on 13 August 2020 and consequently recognised RM106.8 million gain.
On 25 September 2020, the Company further announced that based on the unaudited management accounts as at 31 August 2020, the Group shareholders’ equity has increased from RM26.1 million as at 31 July 2020 to RM93.8 million and the ratio of the shareholders’ equity to share capital on a consolidated basis is 34.8%. As at 31 October 2020, the shareholders’ equity is RM83.9 million and the ratio of the shareholders’ equity to share capital on a consolidated basis is 31.1%. In view of the above, the Company no longer triggers the prescribed criteria pursuant to Paragraph 8.04 and Paragraph 2.1(a) of PN17 of the MMLR of Bursa Malaysia Securities Berhad.
GROUP BORROWINGS AND DEBT SECURITIES Group borrowings and debt securities as at the end of the reporting period are as follows: In the prior year, the Group has reclassified total term loans and borrowings of approximately RM735 million from non-current liabilities to current liabilities as the PDRS has not been completed as at 30 April 2020. The total carrying amounts of loans and borrowings is approximately RM891 million.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
GetInCondo
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Posted by GetInCondo > 2021-01-14 11:22 | Report Abuse
anyone trapped 0.155?