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Hwang Capital's shares to be suspended tomorrow, pending material announcement

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Hwang Capital's shares to be suspended tomorrow, pending material announcement

Post by Cals Thu 19 May 2016, 23:55

Hwang Capital's shares to be suspended tomorrow, pending material announcement

By Billy Toh / theedgemarkets.com | May 19, 2016 : 8:29 PM MYT

KUALA LUMPUR (May 19): Hwang Capital (M) Bhd's shares will be suspended from 9am tomorrow (May 20), pending a material announcement, according to its bourse filing today.

On March 22, 2016, the board of Hwang Capital has resolved to further extend the timeframe for the utilisation of the RM250 million of disposal proceeds that it has set aside for new businesses as the company has still not found any suitable business.

The company has been looking for potential new businesses over the last two years to complement the group's existing business since it had, on April 7, 2014, completed the disposal of its entire equity interest in HWang-DBS Investment Bank Bhd and its subsidiaries and associates for RM1.3 billion, cash, to Affin Holdings Bhd.

"While wanting to invest expeditiously into new opportunities, the board's guiding principle is to be judicious in its search," it had said in the filing then.

Today, its share price edged up four sen or 1.84% to close at RM2.21, after 81,200 shares were traded.

Cals: Administrator; Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
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Comments : â€œMy plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€d have been right perhaps as often as seven out of ten times.â€
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