Media Chinese International share trade suspended tomorrow

by **Cals** Tue 12 Jan 2016, 00:40

Media Chinese International share trade suspended tomorrow

By Gho Chee Yuan / theedgemarkets.com | January 11, 2016 : 8:14 PM MYT

KUALA LUMPUR (Jan 11): [size=16]Media Chinese International Ltd (MCIL) ([You must be registered and logged in to see this image.] Valuation: 1.80, Fundamental: 2.40)'s shares will be suspended from trading tomorrow (Jan 12), pending the release of an announcement, its filing with Bursa Malaysia showed today.

"Bursa Malaysia Securities Bhd ([You must be registered and logged in to see this image.] Valuation: 1.70, Fundamental: 2.30) had approved the company's application for trading suspension pending release of an announcement," it told the stock exchange in a filing.

It added the request for suspension is made under Paragraph 3.1(b)(v) of Practice Note 2 on Requests for Suspension of the Main Market Listing Requirements of Bursa Malaysia Securities Bhd.

In December last year, speculation was rife that China's e-commerce giant Alibaba has initiated talks with Ming Bao, a publication under the MCIL group. The move came after Alibaba's acquisition of the South China Morning Post.

Nevertheless, Alibaba's spokesperson Rico Ngai and MCIL executive director and group chief executive officer Tiong Kiew Chiong both had denied the rumour.

MCIL shares closed two sen or 3.31% higher at 63 sen today, for a market capitalisation of RM1.06 billion.

(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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