Zelan classified as PN17 company

KUALA LUMPUR: Engineering and construction firm Zelan Bhd has triggered the criteria pursuant to Practise Note 17 (PN17) of the Main Market listing requirements of Bursa Malaysia.

In a statement yesterday, Bursa said it would continue to monitor the progress of the company.

As at May 2, 2023, there are 29 companies under PN17 and GN3, which represent 3.06% of the total number of 949 companies listed on the Main and ACE Markets of Bursa.

PN17 classification involves financially distressed companies that are listed on the Main Market, while GN3 status refers to distressed companies that are listed on the ACE Market.