What is PN17?

Practice Note 17/2005
PN17 stands for Practice Note 17/2005 and is issued by Bursa Malaysia; relating to companies that are in financial distress. Companies that fall within the definition of PN17 will need to submit their proposal to the Approving Authority to restructure and revive the company in order to maintain the listing status.

What is PN17 and GN3 in Bursa Malaysia?

PN17 classification involves financially distressed companies that are listed on Bursa Malaysia’s Main Market, while GN3 status refers to distressed companies that are listed on the ACE Market. Six Companies Trigger PN17/GN3 Criteria.

How do I get out of PN17?

In order for BMedia to exit, its PN17 status, it has to implement the regularisation plan approved by Bursa in the timeframe stipulated. The company has been on an extension period of providing their regularisation plan since one year after falling into PN17 status.

What is a cash company?

Pursuant to Rule 14.82 of the Rules Governing the Listing of Securities on the Exchange (“Listing Rules”), a cash company is a company whose assets consist wholly or substantially of cash or short-dated securities.

What is ACE market in Bursa Malaysia?

The ACE Market which stands for ‘Access, Certainty, Efficiency’ is actually the new name for the formerly known MESDAQ (Malaysian Exchange of Securities Dealing and Automated Quotation) market.

Is cash a position?

The cash position is a sign of financial strength and liquidity. In addition to cash itself, this position often takes into consideration highly liquid assets, such as certificates of deposit, short-term government debt, and other cash equivalents.

Is Depreciation a cash outflow?

Depreciation does not have a direct impact on cash flow. However, it does have an indirect effect on cash flow because it changes the company’s tax liabilities, which reduces cash outflows from income taxes. Essentially, when your company prepares its income tax return, depreciation will be listed as an expense.

What is the major difference between Main market and ACE market?

Potential issuers for the Main Market must demonstrate that they have achieved minimum profit track record or minimum size measured by market capitalization; ACE Market is a sponsor-driven market designed for companies with growth prospects.

Whats a good cash position?

A stable cash position is one that allows a company or other entity to cover its current liabilities with a combination of cash and liquid assets. However, when a company has a large cash position above and beyond its current liabilities, it is a powerful signal of financial strength.

What is a good cash position?

Cash Position Basics In general, a stable cash position means the company can easily meet its current liabilities with the cash or liquid assets it has on hand. Current liabilities are debts with payments due within the next 12 months.

Does depreciation affect profit?

Though depreciation is a cost, which affects net income, accumulated depreciation is a bookkeeping method that does not directly affect net income.

When did Lion Corporation Berhad change its name?

Lion Corporation Berhad (“LCB”) was incorporated in Malaysia under the Companies Act 2016 on 27 September 1972 as a private limited liability company under the name of Lion (Teck Chiang) Sdn Bhd. It subsequently changed its name to Lion Corporation Sdn Bhd on 18 May 1981.

Who is the founder of the Lion Group?

Cheng’s grandfather founded Lion as a small trading company in Singapore after leaving China in the 1920s. It became Malaysia ‘s biggest steel manufacturer after winning a license from the government in 1978.

What kind of business does Lion Corporation do?

The Company, through its subsidiaries, is engaged in the manufacturing and marketing of steel products, such as hot rolled coils, cold rolled coils, bands, plates and sheets; manufacturing, distribution and trading of office equipment and steel related products, and share registration and secretarial services.

What are the assets of the Lion Group?

Lion Group’s key assets in Malaysia are two steel mills with a capacity of 3 million tons a year, a forest concession in Sabah that is four times the size of Singapore, and the Silverstone tyre making business. Lion also has 26 Parkson department stores in Malaysia, 13 stores in China, and nine breweries in China. The group has…