KUALA LUMPUR: Shares of HARVEST COURT INDUSTRIES BHD [] rose in very active trade on Monday, Oct 17 on expectations the managing director Ng Swee Kiat would buy the 19.43% stake held by Affin Bank Bhd.
At 3.06pm, Harvest was up five sen to 19.5 sen with 37.10 million shares done. The warrants, Harvest-WA added two sen to eight sen with 25.21 million units transacted.
The FBM KLCI rose 15.55 points to 1,457.98. Turnover was 1.10 billion shares valued at RM1.029 billion. There were 588 gainers, 169 losers and 221 stocks unchanged.
Harvest Court, in reply to a Bursa Malaysia Securities' query, said Ng was in talks with the bank over a possible acquisition of the shares held by the bank.
'However, as at to date no formal proposal has been finalised and submitted to Affin Bank,' it said.
Ng owned 16.78% stake or 28.838 million shares in Harvest Court, both direct and indirect. His direct stake is 4.8% or 8.246 million shares while his indirect stake, via Port Klang Jetty Sdn Bhd was 20.59 million shares or 11.98%.
Affin Bank held 19.43% or 31.41 million Harvest Court shares as at Nov 26, 2009 which it had received pursuant to the proposed debt revamp of the company.
At 3.06pm, Harvest was up five sen to 19.5 sen with 37.10 million shares done. The warrants, Harvest-WA added two sen to eight sen with 25.21 million units transacted.
The FBM KLCI rose 15.55 points to 1,457.98. Turnover was 1.10 billion shares valued at RM1.029 billion. There were 588 gainers, 169 losers and 221 stocks unchanged.
Harvest Court, in reply to a Bursa Malaysia Securities' query, said Ng was in talks with the bank over a possible acquisition of the shares held by the bank.
'However, as at to date no formal proposal has been finalised and submitted to Affin Bank,' it said.
Ng owned 16.78% stake or 28.838 million shares in Harvest Court, both direct and indirect. His direct stake is 4.8% or 8.246 million shares while his indirect stake, via Port Klang Jetty Sdn Bhd was 20.59 million shares or 11.98%.
Affin Bank held 19.43% or 31.41 million Harvest Court shares as at Nov 26, 2009 which it had received pursuant to the proposed debt revamp of the company.
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