Utusan Melayu rated PN17 over bank payment default


PUBLISHER Utusan Melayu (M) Bhd has been rated PN17 after defaulting on bank payments and is at risk of delisting in a year’s time should it fail to regularise its finances, The Edge Markets reports.

The Umno-owned publisher of Malay-language newspapers and magazines, Utusan Malaysia and Mingguan Malaysian being its most well-known products, was classified as a Practice Note 17 (PN17) company after missing principal and profit payments totalling RM1.18 million to Maybank Islamic Bhd and Bank Muamalat Malaysia Bhd. 


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Comments


  • Sell the Bangi factory and land and machinery, balance after repayment to the bank can still shared among UMNO members.

    Posted 5 years ago by TC BOY