AbleGroup says shares suspended tomorrow pending announcement

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KUALA LUMPUR (Sept 13): AbleGroup Bhd announced that the trading of its securities on Bursa Malaysia will be suspended from 9am tomorrow, pending the release of a material announcement.

"The request for suspension is made under subparagraph 3.1(b) of Practice Note 2 of the Main Market Listing Requirements of Bursa Malaysia," AbleGroup, a marble and granite slabs manufacturer, said in a filing with the local bourse today.

At the time of writing, AbleGroup — which also has an interest in property development — did not state when the trading of its shares will resume.

According to its Annual Report 2016, AbleGroup is controlled by its managing director Datuk Lim Kim Huat, with a 33.25% stake.

A chartered accountant, Lim, 57, is the former deputy executive chairman of Sunrise Bhd, now known as UEM Sunrise Bhd.

AbleGroup has been loss-making since the financial year ended Dec 31, 2015 (FY15).

For the six months ended June this year, AbleGroup managed to reduce its bleeding to RM62,000 from the RM405,000 recorded in the same period a year ago.

Shares in the Main Market-listed AbleGroup, formerly known as Gefung Holdings Bhd, rose 0.5 sen or 3.7% to close at 14 sen today, valuing it at a market capitalisation of RM36.95 million.