Practice Note 17 (PN17) company Reneuco Bhd will be delisted from Bursa Malaysia’s Main Market on May 12 after the regulator rejected its appeal for more time to submit a regularisation plan.
Bursa Malaysia Securities said in a filing on Thursday that the decision follows its earlier rejection on April 6 of Reneuco’s request for an extension. Trading in the company’s shares was set for suspension from April 14 unless an appeal was made.
Reneuco filed its appeal on April 13, the same day its adviser TA Securities Holdings Bhd stepped down from its role in the regularisation plan.
The company was classified as a PN17 issuer in February 2024 after auditors were unable to obtain sufficient evidence to support its financial statements, particularly on receivables, payables, revenue and costs.
Reneuco, which is involved in engineering, construction and energy infrastructure projects as well as property development, has also faced recent regulatory issues, including a Bursa reprimand over late financial reporting and the termination of a solar power agreement with Tenaga Nasional Bhd, which led to a RM45 million charge.
As at end-December 2025, the group had cash of RM9.54 million against borrowings of RM291.05 million, with accumulated losses of RM152.4 million.
The company’s shares last traded at half a sen, giving it a market capitalisation of RM5.7 million.
