Khee San Nears Exit from Financial Distress After Completing Regularization Plan; Shares Rise 4%
MT Newswires Live
Mar 18
Khee San (KLSE:KHEESAN) completed its regularization plan, moving a step closer to exiting its Practice Note 17 (PN17) status, according to a Tuesday Malaysian bourse filing.
Shares rose about 4% in Wednesday's midday trade.
The confectionery maker was classified PN17 by Bursa Malaysia due to financial distress, due to losses and a unit's judicial management.
The regularization plan, including an Employees' Share Scheme (ESS) and financial restructuring, marks the final step toward normalizing operations and positioning the company for sustainable growth, the filing said.
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