Bursa Malaysia Securities announces that Bintai Kinden Corporation Berhad has triggered Practice Note No. 17 of the Main Market Listing Requirements thus enlisting the company as a PN17 entity.
This will be in conjunction with the company’s default in payment and the Notice of Termination dated 29 March 2023 it received from MBSB Bank Berhad in respect of the Islamic Financing Facilities for the total amount of RM109 million
The Facility was granted to OPM and BINTAI is the Corporate Guarantor for the Facility which were obtained to finance the construction of the in-campus accommodation for Kolej Teknologi Islam Melaka Berhad (“KTIMB”) under the concession arrangement between the parties
Bursa Securities said it will continue to monitor the progress of BINTAI in respect of its compliance with the Main Market Listing Requirements.
