Wednesday, November 23, 2011

Triplc loses more than half of value

KUALA LUMPUR (Nov 23): Shares of Triplc have lost more than half the value over the past two days since they resumed trading on Tuesday after the company was uplifted from the Practice Note 17 status.

At 3.24pm, it was down 23 sen to 47 sen with 252,500 shares done.

The FBM KLCI fell 10.51 points to 1,427.48. Turnover was 1.10 billion shares valued at RM716.19 million. There were 198 gainers, 486 losers and 246 stocks unchanged.

Under the financial regularisation exercise, there was the listing and quotation of 6.367 million settlement shares issued pursuant to the capitalisation of RM6.36 million or 25% of the RM25.47 million in debts owing by the group to certain substantial shareholders and creditors and the waiver of the remaining 75% of such debts amounting to RM19 million.

Also quoted were 64.02 million shares of RM1 each issued under the consolidation of every 100 shares of 43 sen each into 43 shares subsequent to the reduction of the paid-up b cancelling 57 sen of the par value of each of the 148.88 million shares in issue after the capitalisation.

In the first quarter ended Aug 30, 2011, it posted net profit of RM208,000 compared with RM252,000'' a year ago. Its revenue was RM16.85 million versus RM2.17 million a year ago.

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