KUALA LUMPUR – AirAsia Group Bhd has announced that Bursa Malaysia’s Practice Note 17 (PN17) relief measures resulting in the group’s triggering suspended criteria are not classified as a PN17 listed issuer.
It said the group continued to trigger the prescribed criteria of the main market listing requirements and an application was submitted to Bursa Malaysia for the relief period to be extended beyond January 7, 2022, and an appeal following the decision by Bursa Malaysia for application.
“After due consideration of all facts and circumstances including all written representations and documents submitted before Bursa Malaysia, the local stock exchange has decided to dismiss the appeal,” it said in a filing with the local bourse today.
Prior to this, it said the group was required to reassess its condition at the expiry of the relief period pursuant to Bursa’s circular on Additional Relief Measures dated April 16, 2020, and February 17, 2021.
Additional relief measures were announced on April 16, 2020, whereby Bursa Malaysia said companies that triggered any of the suspended criteria between April 17, 2020, and June 30, 2021, would not be classified as a PN17 or GN3 company for 12 months.
This aims to provide a greater flexibility to the affected listed companies to focus on sustaining their businesses and operations and regularise their financial condition thereon.
Further announcements will be made in due course regarding this matter, the company said. – Bernama, January 13, 2022
