Bursa Malaysia Rejects Ivory Properties Application For More Time On Regularisation Plan

KUALA LUMPUR, Aug 21 (Bernama) -- Ivory Properties Group Bhd’s application for a further extension of time to submit its regularisation plan to exit Practice Note 17 (PN17) status has been rejected by Bursa Malaysia Securities Bhd.

In a statement today, Bursa Malaysia said trading in the securities of Ivory Properties will be suspended with effect from Aug 29, 2025.

It added that the securities of the company will be delisted on Sept 3, 2025, unless an appeal against the delisting is submitted to Bursa Securities on or before Aug 28, 2025.

“Any appeal submitted after the appeal timeframe will not be considered by Bursa Securities,” it said.

Bursa Securities added that in the event Ivory Properties submits an appeal within the appeal timeframe, the delisting will be deferred pending the decision on the appeal.

“However, Bursa Securities will proceed to suspend the trading of the company’s securities on Aug 29, 2025, even though the decision on the appeal is still pending.

“Upon delisting, Ivory Properties will continue to exist but as an unlisted entity. It will still be able to continue its operations and business and proceed with its corporate restructuring, and its shareholders can still be rewarded by the company’s performance,” it added.

-- BERNAMA