'Is it time for a bye-bye to Brahim's?'
Brahim's Holdings Bhd, which was subject to a Practice Note 17 (PN17) rating, saw its shares plunge 73.91% on April 8 after the supervisor rejected the company's request for a further period to submit a restructuring plan.
At midday, the counter recorded a decrease of 40 cents with a market capital of RM11.77 million.
In this morning's session, Brahim's was the most actively traded stock with 128.51 million shares.
According to Brahim's filing to the Exchange on Thursday, the airline catering company's shares will be suspended from trading on April 15 and will be delisted on April 20, but appeals have been made to Bursa Securities on or before April 14.
He added that any appeal made after the stipulated period will not be considered by the Securities Exchange, while if the company submits the appeal within the stipulated period, it will suspend the April 20 registration.
However, the hanging of the merchandise on April 15 will still continue even though the company makes appeals.
Meanwhile, recently, Brahim's stated that the re-opening of state borders would benefit the company but looking at the current situation, it is very likely that the re-opening of the border will not help the company with the implementation of the PN17.
