Wednesday, June 9, 2010

Kenmark falls on resuming trade

KUALA LUMPUR: Kenmark Industrial Co (M) Bhd fell in early trade after it resumed trade on Wednesday, June 9 and was also the most actively traded counter.

At 9.50am, the counter fell 31.4% or 8.5 sen to 18.5 sen with 32.15 million shares done.

Kenmark resumed trading Wednesday after it clarified with Bursa Malaysia on Tuesday over the administrative expenses of RM141.6 million and the provision for doubtful debts.

The company made general provision at 100% for the RM69.81 million in doubtful debts exceeding 12 months while RM12.21 million was for unrealised foreign exchange loss and the remaining amounts for impairment on fixed assets.

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