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KHEE San Bhd, a heritage confectionery manufacturer listed on Bursa Malaysia’s Main Market, has successfully completed its regularisation plan, bringing it a step closer to exiting its Practice Note 17 (PN17) status.
The milestone follows the implementation of the employees’ share scheme (ESS) today.
Principal Adviser M & A Securities Sdn Bhd confirmed that all requirements under Paragraph 6.43(1) of the Main Market Listing Requirements have been met and submitted to Bursa Malaysia.
KSB was classified under PN17 on November 18, 2021 after the judicial management of its wholly-owned subsidiary, Khee San Food Industries Sdn Bhd.
The successful execution of the regularisation plan marks the final hurdle in the company’s journey to financial normalisation.
“The completion of our regularisation plan is a monumental achievement for Khee San. Today, the group stands well-positioned to reclaim its position as a market leader in the confectionery industry,” said its MD Yong Loong Chen.
“We are grateful for the support of our shareholders, the patience of our creditors, and the dedication of our team. As we move closer to exiting PN17, our focus shifts to driving sustainable profitability, innovating our product offerings, and delivering long-term value to our stakeholders.” — TMR
The post Khee San completes regularisation plan, set to exit PN17 appeared first on The Malaysian Reserve.
