KUALA LUMPUR (July 1): Pertama Digital Bhd (KL:PERTAMA) said it has triggered Practice Note 17 (PN17) status after its shareholders' equity fell below the threshold prescribed under Bursa Malaysia's listing requirements, adding that the development does not alter its ongoing regularisation efforts.
In a Bursa Malaysia filing on Wednesday, the company said that based on its audited financial statements for the year ended Dec 31, 2025, its consolidated shareholders' equity has fallen to 25% or less of its share capital and below RM40 million.
Pertama Digital stressed that the PN17 classification does not change its existing regularisation direction, as it had already submitted its proposed regularisation plan to the Securities Commission Malaysia (SC) on April 8, pending review and approval.
The company has been an affected listed issuer since August 2022 after disposing of its textile business, Be Top Group Ltd, for RM70 million as part of its strategic pivot to digital services.
The disposal of its major business triggered Paragraph 8.03A of Bursa Malaysia's Main Market Listing Requirements, requiring the company to submit a regularisation plan.
The regularisation plan, submitted to the SC on April 8, includes the proposed acquisition of D-Ron Singapore Pte Ltd and D-Ron Malaysia Sdn Bhd.
Pertama Digital said it will continue working with its advisers and the relevant regulatory authorities to advance the regularisation plan and will announce any material development in due course.
It also reminded shareholders that failure to regularise its financial condition within the prescribed timeframe could result in the eventual delisting by Bursa Malaysia, subject to the company's right of appeal.
Trading in Pertama Digital shares has been suspended since Nov 14, 2025, after the company failed to submit its regularisation plan within Bursa Malaysia's stipulated deadline despite receiving multiple extensions.
The submission deadline had been extended several times from the original August 2023 deadline to February 2024, August 2024, February 2025 and finally October 2025 before lapsing.
Based on its last traded price of 9.5 sen, Pertama Digital is valued at RM41.63 million.