Brahim’s Plans To Exit PN17 Status Soonest

KUALA LUMPUR, March 5 (Bernama) -- Brahim’s Holdings Bhd (BHB) plans to exit the Practice Note 17 (PN17) status as soon as possible, after lapsing into it last week. Executive chairman Ibrahim Ahmad said the company would come up with a comprehensive plan, which includes strategic discussions with partners to review its capital and business structure, with the view of complying with Bursa Malaysia’s listing requirements. “We are not planning to get de-listed and are determined to recover from the PN17 status. “We are in the right business and as a major global halal player, we want to assure all shareholders, customers, suppliers, joint-venture partners and employees, that business at the operations level is unaffected by this status,” he told a press conference here Tuesday. Ibrahim said the company would be consulting with prospective principal advisers to formulate and submit the regularisation plan within the next three months and make the necessary announcements in due course. -- BERNAMA