🔎 PROMET BERHAD (4138): A Deep Dive into a Delisted Malaysian Corporate Giant
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- Nov 8, 2025
- 3 min read
Promet Berhad: Delisting and Distinction
🔎 PROMET BERHAD (4138): A Deep Dive into a Delisted Malaysian Corporate Giant
Introduction: The Legacy of PROMET BERHAD
PROMET BERHAD (Stock Code: 4138) is a name synonymous with a significant chapter in Malaysian corporate history. Once a formidable conglomerate with interests spanning marine engineering, oil and gas, and property development, Promet Berhad's story is primarily known today for its struggles with financial distress and eventual delisting from Bursa Malaysia (formerly known as the Kuala Lumpur Stock Exchange, MSEB).
For investors, researchers, and those tracking the trajectory of major regional players, understanding the fate of this company provides a crucial case study in the challenges faced by large, diversified corporations in Southeast Asia.
Timeline of Decline: Why PROMET BERHAD Was Delisted
The defining event in the company's public history was its designation as a Practice Note No. 4/2001 (PN4) company, a classification reserved for financially distressed public listed entities.
Event | Date | Significance |
Corporate Struggles | Mid-to-Late 1990s | Faced significant financial challenges and exceptional losses, partly due to large investments like its increased stake in Ipco. |
PN4 Classification | Early 2000s | Classified under the precursor to the current Practice Note 17 (PN17) for financial distress. |
Restructuring Rejection | February 2004 | The Securities Commission (SC) of Malaysia rejected Promet's appeal against the decision to reject its proposed corporate restructuring scheme. |
Official Delisting | March 5, 2004 | Promet Berhad's shares were officially removed from the Official List of Bursa Malaysia, marking the end of its life as a publicly-traded entity. |
This delisting was final, and as indicated by current financial data platforms, the PROMET (4138) stock price is now RM0.00, and there is no trading activity.
Former Core Business Activities
During its peak, Promet Berhad was an active player in high-value, capital-intensive sectors:
⚓ Marine & Offshore Engineering: A key focus was on marine fabrication, ship repair, and construction of offshore oil and gas structures. This was central to its business identity.
🏗️ Construction & Infrastructure: Involved in various engineering and construction projects across the region.
Estate Development: Held interests in property and land assets, primarily in Malaysia.
Crucial Distinction: PROMET BERHAD vs. PROMET Group
A critical point for modern searches is the frequent confusion between the defunct Malaysian entity and a similarly named active conglomerate in Central Europe:
Entity Name | Primary Location | Current Status | Industry Focus |
PROMET BERHAD (4138) | Malaysia | Delisted (March 2004) & Inactive Publicly | Marine, Oil & Gas, Property (Historical) |
PROMET Group | Czech Republic, Central Europe | Active and Growing (Family-owned) | Machinery, Metallurgy, Engineering, Logistics |
Note: Any recent news regarding major acquisitions, engineering projects, or financial growth involving the "Promet Group" in Central Europe is not related to the historical Malaysian company, PROMET BERHAD (4138).
Conclusion: A Lesson in Corporate Governance
The story of Promet Berhad serves as a powerful reminder of the risks associated with highly leveraged and rapidly diversified business models. Its demise and subsequent delisting cemented its place as a reference point in discussions about corporate accountability and the regulatory oversight provided by institutions like Bursa Malaysia and the Securities Commission. The company's final status underscores the importance of stringent financial and governance practices for sustained public listing.
🔎 PROMET BERHAD (4138): A Deep Dive into a Delisted Malaysian Corporate Giant
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