99 companies delisted from Bursa since 2003
Deputy Finance Minister Donald Lim Siang Chai said the delisted companies were among 143 companies identified as financially unstable.
"As of July 15, there were 46 listed companies which faced financial problems and had yet to implement any restructuring exercise.
"Of this number, only 17% were suspended from trading on the bourse," Lim said during a question and answer session in the Dewan Negara today.
He was responding to a question from Senator Mohamad Ezam Mohd Nor who wanted the list of companies issued warnings by the Securities Commission and subsequently suspended for financial problems and mismanagement.
Lim also said 46 companies or 5% of the 961 companies listed on Bursa Malaysia were large corporations.
He said the government was taking definite steps to reduce the number of listed companies in financial difficulties on Bursa.
The Securities Commission has also acted against individuals or companies involved in financial mismanagment between Jan 1, 2000 and July 15, 2010.
"Various legal and administrative action has been instituted against directors and chief financial officers of 40 listed companies for mismanagement," he added.
- Bernama
