PN4 Condition Company no longer classified separately from Jan 3, 2005.
Bursa Malaysia announced yesterday that the PN4 Condition sector classification will be removed with effect from 3 January 2005. The existing PN4 companies will be placed into their respective sectors prior to them triggering the PN4 requirements. In Feb 2001, Bursa Malaysia started classifying listed companies which were in financial distress or in net liabilities situation into PN4 Condition sector. Bursa Malaysia also introduced a revised framework to replace PN4 condition after the effective date.
Don't know why the Exchange do that. As the new framework is supposed to be stricter, I guess it is a good development. Just that people had been getting used to refer to PN4 companies as companies in bad financial condition. Reclassification may not be necessary.