PETALING JAYA: Umno-linked media company Utusan Melayu (M) Bhd has been classified as a Practice Note 17 (PN17) company, denoting its financials were inadequate as a listed entity.
In a filing with Bursa Malaysia yesterday, the company, which has defaulted on loans from Bank Mualamat Malaysia Bhd and Maybank Islamic Bhd, said that it would need to come up with a regularisation plan within the next 12 months.
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