Kretam rebounds after Monday's limit down
Published on: Wednesday, June 20, 2018
Kuala Lumpur: Kretam Holdings Bhd's shares rebounded and was among the top five most actively traded stocks on Bursa Malaysia today after hitting limit down.At lunch break, Kretam shares stood at 47.5 sen, up1.5 sen or 3.2 per cent from Monday's close of 46 sen, with 39.95 million shares changing hands.The Sabah-based medium-sized oil palm plantation company's share price tanked yesterday on news that Hap Seng Plantations Holdings Bhd had aborted the acquisition of a 55 per cent stake in the company.
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Bursa Malaysia was open for trading for half a day on Thursday last week and was closed on Friday for the Hari Raya Aidilfitri holiday. In a filing to Bursa Malaysia last Thursday, Kretam said it was informed by its Executive Director/Chief Executive Officer and the controlling shareholder, Datuk Lim Nyuk Sang @ Freddy Lim, that Hap Seng had decided to terminate the respective conditional share sale agreements with him and Santraprise Sdn Bhd.Stay up-to-date by following Daily Express’s Telegram channel.
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