Kuala lumpur: Ivory Properties Group Bhd’s application for a further extension of time to submit its regularisation plan to exit Practice Note 17 (PN17) status has been rejected by Bursa Malaysia Securities Bhd. In a statement today, Bursa Malaysia announced that trading in the securities of Ivory Properties will be suspended with effect from August 29, 2025.

According to BERNAMA News Agency, Bursa Malaysia further stated that the securities of the company will be delisted on September 3, 2025, unless an appeal against the delisting is submitted to Bursa Securities on or before August 28, 2025. The statement emphasized that any appeal submitted after the appeal timeframe will not be considered by Bursa Securities.

Bursa Securities mentioned that if Ivory Properties submits an appeal within the appeal timeframe, the delisting will be deferred pending the decision on the appeal. Nevertheless, it was clarified that Bursa Securities will proceed to suspend the trading of the company’s securities on August 29, 2025, even if the decision on the appeal is still pending.

Upon delisting, Ivory Properties will continue to exist but as an unlisted entity. It will still be able to continue its operations and business and proceed with its corporate restructuring, and its shareholders can still be rewarded by the company’s performance.