Thursday, June 10, 2010

Talam active after coming off PN17 list

KUALA LUMPUR: Talam Corp Bhd, which came off the Practice Note 17 (PN17) list effective Thursday, June 10, was the most actively traded stock on Bursa Malaysia in early trade.

At 10.05am, the counter added half a sen to 14.5 sen with 174.9 million shares done.

Talam had regularised its financial condition and that it "no longer triggers any of the criteria under Paragraph 2.1 of the PN17 of the Main Market Listing Requirements".

PN17 is a classification for companies that are in financial distress. Companies in this list would have to comply with the obligations to regularise its financial conditions; otherwise delisting procedures shall be taken against it.

Talam had been admitted into the PN17 list since Sept 1, 2006. Its auditors were unable to "express their opinion on the company's audited accounts" for its financial year ended Jan 31, 2006.

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