Friday, June 25, 2010

Sinotop up on Be Top RM59m guarantee

KUALA LUMPUR: Shares of garment manufacturer Sinotop Holdings Bhd is up in morning trade on Friday, June 25 after China-based Be Top gave a RM59 million guarantee in Sintop reverse takeover.

At 10.26am, Sinotop is up 7.5 sen to 57 sen with 8.9 million shares.

The FBM KLCI is down 1.21 points to 1,324.66. Turnover is 136 million shares valued at RM140.53 million.

The Be Top profit guarantee is to assure current shareholders to subscribe for the renounceable rights issue of 10 new Sinotop shares for every share held.

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