Unless otherwise defined, the definitions set out in the First Announcement made on 8 July 2014 and announcements dated 9 June 2015 and 20 July 2015 shall apply herein.
Reference is made to the announcement dated 7 September 2015 in relation to the above.
After due consideration of all facts and circumstances of the Application, including amongst others, the following:
(i) CSL Group have recorded 3 consecutive quarters of net profit on a consolidated basis up to the quarter ended 30 September 2015, of which the results for these quarters up to 30 September 2015 have been subjected to a limited review by an external auditor;
(ii) Confirmation by the Company that it has complied with the recommendations made pursuant to the findings raised in the risk management and internal controls assessment reports; and
(iii) The Company no longer triggers any prescribed criteria under Paragraph 2.1 of PN17 of the MMLR.
On behalf of the Board of Directors of CSL, M&A Securities is pleased to announce that Bursa Securities had, vide its letter dated 26 November 2015, decided to grant the Company a waiver from complying with Paragraph 8.04(3)(a) of MMLR which requires a PN17 company to submit a regularisation plan to the relevant authority.
With the waiver being granted, Bursa Securities has informed that the Company will be uplifted from its PN17 status effective from 9.00 am on 27 November 2015.
This announcement is dated 26 November 2015.