Business

Published: Friday February 8, 2013 MYT 3:20:00 PM

MRCB suspended for announcement, likely linked to Gapurna share swap


KUALA LUMPUR: Trading in the securities of Malaysian Resources Corporation Bhd (MRCB) was suspended in the afternoon session on Friday for a corporate announcement.

At 12.30pm, it was up two sen to RM1.26. However, the share price is down 44.5% over the past 12 months from RM2.27 on Feb 8, 2012 due to a lack of rerating catalysts and positive newsflow.

It was understood the suspension was for MRCB to announce a share swap with Gapurna Sdn Bhd.

A news report said it could be a potential deal with the Gapurna group for injection of 60 acres of prime land worth RM1bil into the former's landbank in exchange for shares.

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