Malaysian construction company Zelan Bhd has joined the list of companies classified as “PN17” by Bursa Malaysia, the country’s stock exchange regulator. The list is made up of “distressed” entities that have failed to comply with the bourse’s listing requirements. AirAsia Group and its sister airline AirAsia X are also among the 28 firms that have previously been designated PN17. Zelan is set to undergo close monitoring by regulators in order to ensure it meets listing requirements. AirAsia Group is awaiting a Bursa Malaysia decision on its bid to extend the timeframe for a regularisation plan to address its own PN17 status.
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