KUALA LUMPUR: JERNEH ASIA BHD [] is still looking into the formulating a regularisation plan to regularise its financial condition.
The company said on Wednesday, Feb 2 it has about 10 months to submit its regularisation plan to the relevant authorities for approval.
Jerneh Asia had disposed of its 80% stake in Jerneh Insurance Bhd to ACE INA International Holdings Ltd for cash consideration of RM523.2 million.
Following the disposal, it had on Dec 1 considered an affected listed issuer pursuant to Practice Note 17 of the Listing Requirements.
Under the requirements, Jerneh Asia is an affected listed issuer after it had suspended or ceased its major business or operations as a result of the disposal of its major business.
The company said on Wednesday, Feb 2 it has about 10 months to submit its regularisation plan to the relevant authorities for approval.
Jerneh Asia had disposed of its 80% stake in Jerneh Insurance Bhd to ACE INA International Holdings Ltd for cash consideration of RM523.2 million.
Following the disposal, it had on Dec 1 considered an affected listed issuer pursuant to Practice Note 17 of the Listing Requirements.
Under the requirements, Jerneh Asia is an affected listed issuer after it had suspended or ceased its major business or operations as a result of the disposal of its major business.
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