KUALA LUMPUR: Bursa Malaysia Securities Bhd has issued an uncommon market exercise (UMA) question to Tanco Holdings Bhd over the sharp rise in its share value and buying and selling quantity not too long ago.
“Traders are suggested to be aware of the corporate’s reply to the UMA question, which will probably be posted on Bursa Malaysia’s web site below the Firm Bulletins (part) when making their funding choice,” the trade stated in a press release at the moment.
In keeping with the corporate’s web site, previous to 1995, the corporate was principally engaged within the manufacturing and sale of rubber sheets and cultivation of oil palm fruits from its plantation in Kuantan, Pahang.
In January 1997, Tanco accomplished the acquisition of Tanco Properties Sdn Bhd’s whole issued and paid-up share capital, the developer of Bandar Nation Properties (BCH) Stage 1 overlaying 268 acres, and Tanco Growth Sdn Bhd, the developer of BCH Stage 2 on freehold 480 acres, each in Rawang.
These acquisitions widened the scope of the group’s property growth actions and elevated its land financial institution to over 1,000 acres of prime growth land.
In February 1998, Tanco accomplished the acquisition of your complete issued and paid-up capital of Tanco Resorts Bhd, enabling the group to maneuver into the holiday possession enterprise and people associated to tourism, leisure and leisure.
At 12.30 pm, the counter rose 60.5 per cent from 12.5 cent with 64.6 million shares traded. – Bernama