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NewsTrading in Hwang Capital's shares suspended till Monday
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Trading in Hwang Capital's shares suspended till Monday
by Cals Mon 23 May 2016, 00:40
Trading in Hwang Capital's shares suspended till Monday
By Supriya Surendran / theedgemarkets.com | May 20, 2016 : 7:41 PM MYTKUALA LUMPUR (May 20): Trading in financial services group Hwang Capital (Malaysia) Bhd's shares will be suspended until 5pm on Monday (May 23).
In its filing today, the company said Bursa Malaysia has approved its request for another market day's suspension, following the one-day suspension today pending the release of a material announcement.
On March 22, the board of Hwang Capital had 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.
Its shares were last traded on May 19 at RM2.21, which valued it at RM563.9 million.
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