SCB admitted into PN17 status

KUALA LUMPUR: Sarawak Cable Bhd (SCB) has been admitted into Practice Note (PN) 17 status by Bursa Malaysia today due to a disclaimer of opinion expressed by its external auditor recently on the cable and wire producer’s audited financial statements for the 17-month period ended May 31, 2022.

In a filing with Bursa Malaysia Friday, SCB said its external auditors, Messrs Ernst and Young PLT, have expressed a disclaimer of opinion in the company’s audited financial statements announced on Sept 30, hence, the company is considered a PN17 issuer.

As at the date of this announcement, the company is taking the necessary steps to address its PN17 status.

“The company is in the midst of formulating a regularisation plan to address its PN17 status in tandem with the Proposed Scheme of Arrangement and the announcement on the same will be made in due course in accordance to the listing requirement,” it said. – Bernama

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