Thursday, December 16, 2010

LCL falls ahead on suspension warning

KUALA LUMPUR: Shares of LCL Corp Bhd fell in active trade on Thursday, Dec 16 after it was warned by Bursa Malaysia Securities that it faces suspension with effect from Dec 23.

At 9.17am, it was down 2.5 sen to 1.5 sen with 3.90 million shares done..

The FBM KLCI fell 3.34 points to 1,505.76. Turnover was 69.05 million shares done valued at RM58.87 million. Losers beat gainers 135 to 91 while 143 stocks were unchanged.

LCL, which was badly impacted by the Dubai financial crisis, faces suspension with effect from Dec 23 after it failed to come up with a regularisation plan.

It said the securities would be de-listed on Dec 27, unless an appeal is submitted to Bursa Securities on or before Dec 22, which is the appeal timeframe.

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