Time running out for inactive companies (HL).

Byline: Maisara Ismail

INACTIVE companies on the Kuala Lumpur Stock Exchange which have yet to come up with a plan to regularise their operations level may have run out of time and could face suspension.

According to the revamped listing procedures under Practice Note 10/2001 (PN10) issued July last year, listed companies with low level of operation were given nine months to announce their plans, and their deadlines are expiring as soon as April.

So far, 14 companies have come forward to make a requisite announcement that disclose their PN10 positions.

Out of the 14 PN10 companies, five are at the same time listed under the Practice Note 4/2001 (PN4) for financially troubled companies.

Companies listed under both practice notes are required to give priority to PN4 obligations and requirements.

These companies are Berjuntai Tin Dredging Bhd, Esprit Group Bhd, Parit Perak Holdings Bhd, Omega Holdings Bhd and Long Huat Group Bhd.

Apart from the five, six other companies have announced …