KUALA LUMPUR (Nov 4): Ho Hup Construction Company Bhd (KL:HOHUP) has secured another six-month extension from Bursa Malaysia to submit its regularisation plan, pushing the deadline to April 16, 2027.
In a bourse filing on Wednesday, the financially distressed builder said trading in its shares would be suspended and it faces delisting if it fails to meet the deadline, obtain regulatory approvals or implement the regularisation plan on time.
However, the company can still appeal against any Bursa action.
Ho Hup, which has been a Practice Note 17 company since April 18 last year, was supposed to submit its regularisation plan by April 17 this year and but failed to do so at it grapples with several legal actions initiated by creditors.
After failing to meet the first deadline, Ho Hup had applied for a 12-month extension but was granted only six months, until Oct 17.
Its PN17 classification was triggered when wholly owned subsidiary Bukit Jalil Development Sdn Bhd defaulted on RM112.69 million in loans, for which Ho Hup was the guarantor.
The company had previously been classified as a PN17 issuer in July 2008 before exiting the status in May 2014 following a financial restructuring exercise.
For the financial year ended June 30, 2026 (FY2026), Ho Hup narrowed its losses to RM12.3 million compared with FY2025's RM435.6 million.
Revenue for the year declined 28% to RM11.2 million compared with RM15.6 million a year ago.
It attributed FY2026's gains to removing certain struggling subsidiaries and receiving payments for debts. However, some impairments remained.
Ho Hup shares closed at 35 sen on Wednesday, valuing the group at RM18 million.