Ireka classified as PN17 company

KUALA LUMPUR: Ireka Corp Bhd has become the latest company to be classified as an affected listed issuer under Practice Note 17 (PN17) of the Main Market Listing Requirements.

In a filing with Bursa Malaysia yesterday, the construction and property developer said it had triggered the prescribed criteria under Paragraph 2.1(e) of the PN17 and that Bursa Malaysia Securities Bhd had rejected its application to extend the relief period, which ended on Feb 26.

“The PN17 prescribed criteria is triggered as the company’s external auditors, Messrs Crowe Malaysia PLT, have issued a qualified opinion with indication on material uncertainty relating to going concern in respect of the company’s audited financial statements for the financial year ended March 31, 2021.”