Waja Konsortium Bhd has been classified as a GN3 Company by Bursa Malaysia Securities Bhd due to its failure to meet the criteria outlined in Rules 2.1(b) and 2.1(c) of Guidance Note No. 3 (GN3) of the ACE Market Listing Requirements.
This classification is a result of Waja Konsortium reporting a loss of RM44.03 million for the financial period ending on June 30, 2023, which exceeded its shareholders' equity of RM37.2 million.
Additionally, Waja Konsortium has accumulated losses of RM68.59 million over two consecutive full financial years.
The company is now in the process of developing a plan to rectify its financial situation and will make the necessary announcements in accordance with the Listing Requirements.
Bursa Securities will continue to monitor Waja Konsortium's progress in complying with the ACE Market Listing Requirements.
