Bursa Securities rejects Scomi Energy PN17 waiver appeal


In a move to show that it was still viable, Scomi Energy announced progress in its next generation green products for drilling services with a potential market expansion into China. As at December 2019, Scomi Energy has an order book of US$272mil (RM1.11bil).

KUALA LUMPUR: Bursa Malaysia Securities has rejected Scomi Energy Services Bhd's waiver appeal from being designated as a Practice Note 17 (PN 17) due to concerns about the outlook of the company.

Bursa Securities had on Tuesday rejected the application on concerns about the company's sustainability and growth potential of the existing/remaining business, and the ability to generate sufficient revenue and thus profitability.

Subscribe now and receive FREE sooka plan for 1 month.
T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

Malaysia palm oil futures seen around and above RM5,000 to mid-2025, Mistry says
Gold prices set for second straight weekly fall
Oil prices fall as Hurricane Rafael expected to start weakening
Maybank Islamic Asset launches MISI Fund for corporate and institutional investors
FGV plans to export CPKO to europe via customer-end products
Sony posts 73% jump in Q2 profit, keeps outlook
Palm oil output in 2024 to recover in Malaysia, drop in Indonesia, Glenauk Economics says
Asia stocks sputter as focus shifts to China stimulus
Manufacturing sales value rises 2.9% to RM162.3bil in September
Westports' net profit rises to RM233.07mil in 3Q24

Others Also Read