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NewsUpdate 2 Ho Hup applies for PN17 upliftment; share jumps 2.7% after announcement
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Update 2 Ho Hup applies for PN17 upliftment; share jumps 2.7% after announcement
by Cals Thu 06 Mar 2014, 17:30
| Update 2 Ho Hup applies for PN17 upliftment; share jumps 2.7% after announcement |
| Business & Markets 2014 |
| Written by Jonathan Gan of theedgemalaysia.com |
| Thursday, 06 March 2014 16:38 |
KUALA LUMPUR (Mar 06): Ho Hup Construction Company Bhd announced at mid-afternoon it has applied to Bursa Securities for an early upliftment of its PN17 status.
“The company wishes to inform that, on 5 March 2014, M&A Securities Sdn. Bhd. had on behalf of the company, submitted an application to Bursa Securities for an early upliftment from being classified as a PN17 company under the Listing Requirements.”
"The company’s application is subject to Bursa Securities’ approval. An announcement will be made once the company receives a decision from Bursa Securities,” said Ho Hup in its filing with Bursa Malaysia.
At 4.25 pm today, the company's shares rose 4 sen or 2.68% to RM1.53 per share with some 7 million shares traded after the announcement was made.
In a press statement, Ho Hup said for the last quarter of the financial year ended 31 December 2013, the group recorded a profit after tax (PAT) of RM16.5 million.
For the full year of 2013, PAT was RM 27.7 million
As at December 2013, the company had achieved six consecutive quarters of profit.
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