KUALA LUMPUR (May 22): Bursa Malaysia Securities Bhd on Thursday granted Pharmaniaga Bhd (KL:PHARMA) a three-month extension up to Aug 29 to implement its regularisation plan.

“The extension of time granted is without prejudice to Bursa Securities' right to proceed to suspend the trading of the listed securities of Pharmaniaga, and to delist the company in the event it fails to implement its regularisation plan within the time frame or extended time frame stipulated by any of the regulatory authorities,” the company said in a filing with Bursa Malaysia.

If it fails to do so, Bursa Securities will suspend the trading of the listed securities of Pharmaniaga on the sixth market day after the date of notification of suspension by Bursa Securities and delist the company, subject to the company's right to appeal against the delisting, it said.

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