Iskandar Waterfront City Obtains Bursa's Approval For Regularisation Plan

KUALA LUMPUR, Jan 6 (Bernama) -- Iskandar Waterfront City Bhd has obtained approval from Bursa Malaysia Securities Bhd for its proposed regularisation plan, which comprises a proposed debt settlement and a proposed capital reduction, to exit its affected listed issuer status.

In a Bursa Malaysia filing today, the property developer and construction group said the approval pertained to the company’s announcements dated March 20, 2025, Sept 22, 2025, and Sept 23, 2025, concerning the proposed regularisation plan.

On June 10, 2022, the board of directors announced that the company was an affected listed issuer pursuant to Paragraph 8.03A(7)(b) of the Main Market Listing Requirements of Bursa Securities, as it had insignificant business or operations due to its consolidated revenue representing less than 5.0 per cent of its share capital. 

Previously, it was reported by a local media that the company had proposed a regularisation plan involving the issuance of new shares to settle outstanding debts, a private placement, and a capital reduction to exit its affected listed issuer status.

-- BERNAMA