MAA Holdings now Practice Note 17 company

MAA HOLDINGS BHD [] is now a Practice Note 17 company after it triggered the criteria under the PN17 of the Main Market Listing Requirements of Bursa Malaysia Securities.

Bursa Securities said on Monday, Oct 3 that it would continue to monitor the progress of MAA in respect of its compliance with the Listing Requirements.

MAA had announced on Sept 30 it was considered a PN17 company pursuant to Paragraph 2.1(g) of PN17 after it had completed the disposal of its insurance business to Zurich Insurance Company Lt for RM344 million.

As at Oct 3, there are 24 companies under PN17 which represents 2.63% of the total number of 952 companies listed on Bursa Securities.

Written by Joseph Chin of theedgemalaysia.com