BARAKAH Offshore Petroleum Bhd will have its shares suspended from trading on May 30, 2025, and may be delisted on June 4, after Bursa Malaysia Securities rejected its request for more time to submit a regularisation plan.
The PN17 company failed to show sufficient progress toward finalising its plan, despite having received multiple extensions – the latest of which expired on May 14.
Although Barakah may appeal the delisting, the suspension will proceed regardless.
The company withdrew a previously submitted plan that included a capital reduction and share issuance.
Barakah has been under PN17 status since March 2019 following a loan default. —TMR
The post Barakah faces suspension May 30, delisting June 4 appeared first on The Malaysian Reserve.
