Hot Stock Talam Transform jumps 9.09% after aborting hotel equity sale plan
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Hot Stock Talam Transform jumps 9.09% after aborting hotel equity sale plan
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[size=28]Talam Transform jumps 9.09% after aborting hotel equity sale plan
By Surin Murugiah / theedgemarkets.com | November 16, 2015 : 10:47 AM MYTKUALA LUMPUR (Nov 16): Shares of Talam Transform Bhd ([You must be registered and logged in to see this image.] Valuation: 0.90, Fundamental: 0.35) jumped 9.09% at mid-morning today after the company said it had aborted the proposed disposal of its 85% equity interest in Jilin Province Maxcourt Hotel Ltd to Cre8ive Hotels Management Ltd for RMB230 million, cash.
At 10.23am, Talam rose half a sen to 6 sen with 376,800 shares done.
In a Bursa filing last Friday, Talam said the share sale agreement between its wholly-owned subsidiary company inHong Kong Malim Enterprise (HK) Ltd with Cre8ive Hotels Management inked on April 3 last year has been officially terminated.
The termination was due to Cre8ive Hotels Management's failure to provide the relevant documents for submission to the local authorities and to settle Jilin Province Maxcourt Hotel's outstanding bank loan
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