Trading of Fututech shares to be suspended tomorrow

by **Cals** Tue 15 Sep 2015, 01:27

Trading of Fututech shares to be suspended tomorrow

By Meena Lakshana / theedgemarkets.com | September 14, 2015 : 6:24 PM MYT

KUALA LUMPUR (Sept 14): [size=16]Trading of Fututech Bhd's shares on the Main Market of Bursa Malaysia will be suspended tomorrow, pending a material announcement to be made.

In a filing with Bursa Malaysia today, Fututech said Bursa Securities ([You must be registered and logged in to see this image.] Valuation: 2.10, Fundamental: 2.30) has approved the company's request for a suspension in the trading of its securities with effect from 9am to 5pm tomorrow.

The kitchen cabinet maker had announced in June that it is targeting to launch its maiden residential project dubbed "Vista Residence" which carries RM300 million in gross development value (GDV) at Gohtong Jaya, Pahang, by the fourth quarter of this year.

Fututech executive chairman Datuk Tee Eng Ho had said the serviced apartments will feature two- and three-bedroom units, with built-ups ranging from 844 sq ft to 3,144 sq ft.

After "Vista Residence", Fututech will launch its second residential project in Monterez Golf and Country Club, Shah Alam, which has a projected GDV of RM200 million.

Fututech had on Feb 6, 2015 entered into a heads of agreement with Tee, Datin Toh Siew Chuon and Tee Eng Seng to explore and negotiate further the proposed acquisitions of Kerjaya Prospek (M) Sdn Bhd and Permatang Bakti Sdn Bhd for RM380 million.

Fututech shares closed 8 sen or 5.59% higher at RM1.51 today, with a market capitalisation of RM140.75 million.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
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