KUALA LUMPUR, Sept 5 — Destini Berhad today denied that it has been delisted from Bursa Malaysia or is in financial distress as alleged.
In a statement today, the company said that any such announcements on its delisting or PN17 classification would be announced publicly on the local bourse.
PN17 stands for Practice Note 17/2005. The classification is issued by Bursa Malaysia for companies that are in financial distress, which are then required to submit a proposal on their restructuring and revival if they wish to remain a listed company.
Destini had made a net gain of RM1.16 million but incurred a net loss of RM1.29 million for the second quarter that ended June 30, 2022, local business daily The Edge reported on August 30.
On its company website, Destini is listed as a company providing integrated engineering solutions with “big interests in the aviation and defence, energy, land systems and marine sectors”.