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- The property developer became a PN17 company in April 2024, after its external auditor Jamal, Amin & Partners expressed a disclaimer of opinion in its audited financial statements for the period ended Sept 30, 2023.
KUALA LUMPUR (Sept 25): Practice Note 17 (PN17) property developer Meridian Bhd (KL:MERIDIAN) said it is unable to submit to Bursa Securities and shareholders its annual report, which includes the audited financial statements along with the auditors’ and directors’ reports, for the financial period ended May 31, 2025 (FPE2025), by the Sept 30 deadline.
Meridian said it now expects to issue and submit its Annual Report 2025 within two weeks from Sept 30, that is, by Oct 8.
Companies listed on the Main Market are required to submit their annual reports to the regulator within four months of the end of their financial year.
Under the Main Market Listing Requirements of Bursa Securities, if Meridian fails to issue its Annual Report 2025 within five market days from the expiry of the Oct 8 deadline, the company’s securities will be suspended from trading.
The property developer became a PN17 company in April 2024, after its external auditor Jamal, Amin & Partners expressed a disclaimer of opinion in its audited financial statements for the period ended Sept 30, 2023.
In a separate filing, Meridian said it has submitted a third extension of time application to Bursa Securities of nine months, that is, up to June 25, 2026 to submit its regularisation plan to the relevant regulatory authorities.
The outcome of the application will be announced upon the decision received from Bursa Securities, it added.
Meridian shares closed unchanged at five sen on Thursday, valuing the company at RM11.97 million. The stock has declined 44% year to date.
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