Construction company Ireka Corporation will be delisted from Bursa Malaysia after failing to submit a restructuring plan within the required deadline. The company had been classified as a financially distressed PN17 firm.
Ireka had previously requested additional time to submit a regularisation plan to address its financial issues. However, Bursa Malaysia rejected the appeal after the company failed to meet the regulatory requirements.
As a result, the company’s shares will be removed from the stock exchange, marking the end of its listing after years of financial struggles.
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