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Bursa defers Ho Hup trading suspension, delisting
by hlk Tue 21 Jun 2011, 18:50
KUALA LUMPUR: Bursa Malaysia Securities Bhd has deferred the proposed suspension of Ho Hup CONSTRUCTION [] Co. Bhd’s shares and also the commencement of delisting procedures.
It said on Tuesday, June 21 it had received a letter from the regulator the trading suspension and delisting had been deferred pending its decision on its application for more time to regularise its financial condition.
On Monday, Ho Hup said the Kuala Lumpur High Court has dismissed Pioneer Haven Sdn Bhd’s application for a stay of execution over the judgement on a 60-acre (24.3 ha) plot of land in Bukit Jalil, with costs in favour of Ho Hup Construction Bhd.
Ho Hup said the court had made the ruling on Friday, June 17 after hearing arguments by lawyers for both Pioneer Haven (which is a unit of MALTON BHD []) and Ho Hup.
It said the High Court also set several conditions, pending the disposal of the appeal by Pioneer Haven to the Court of Appeal.
The High Court had agreed to the conditions proposed by Ho Hup, wherein it would not to sell nor dispose of the land. Ho Hup had also proposed it would not enter into any joint venture for the development of the land but may self-develop the land.
It said on Tuesday, June 21 it had received a letter from the regulator the trading suspension and delisting had been deferred pending its decision on its application for more time to regularise its financial condition.
On Monday, Ho Hup said the Kuala Lumpur High Court has dismissed Pioneer Haven Sdn Bhd’s application for a stay of execution over the judgement on a 60-acre (24.3 ha) plot of land in Bukit Jalil, with costs in favour of Ho Hup Construction Bhd.
Ho Hup said the court had made the ruling on Friday, June 17 after hearing arguments by lawyers for both Pioneer Haven (which is a unit of MALTON BHD []) and Ho Hup.
It said the High Court also set several conditions, pending the disposal of the appeal by Pioneer Haven to the Court of Appeal.
The High Court had agreed to the conditions proposed by Ho Hup, wherein it would not to sell nor dispose of the land. Ho Hup had also proposed it would not enter into any joint venture for the development of the land but may self-develop the land.
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