Tuesday, November 15, 2011

SYF Resources securities dip in early trade

KUALA LUMPUR (Nov 15): SYF RESOURCES BHD [] shares declined in early trade on Tuesday, Nov 15 after the company said it was currently in the final stage of negotiation to develop PROPERTIES [] on a joint venture (JV) basis, which it said may have accounted for the unusual market activity (UMA) involving its securities on Monday, Nov 14.

At 9.25am, SYF fell 12 sen to 80 sen with 9.26 million shares done, while its warrants lost seven sen to 57.5 sen with 4.65 million units done.

The company had in a reply to an UMA query from Bursa Malaysia Securities Bhd said the landowners it was in talks with were mainly related parties.

It said on Nov 14 that details of the JV would be released immediately upon conclusion of the negotiations and the execution of the JV agreement.

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