Friday 29 Mar 2024
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KUALA LUMPUR (Sept 27): Property player Tiger Synergy Bhd saw some 91.14 million shares, representing 6.05% stake in the company, traded off market today.

Bloomberg data showed that the shares were traded in eight blocks of different sizes, for RM4.1 million in total or 4.5 sen apiece.

The transactions were made at a discount of 25% or 1.5 sen to its last traded share price of 6 sen on the open market. At press time, it was unclear who were involved in the transaction.

The company had on June 30 inked an agreement with Prosma Bhd, the holding company for the assets of Sekretariat Komuniti Prefer Malaysia (SKPM) to develop an affordable condominium project in Gombak, for a contract value of RM100 million.

Then on July 3, it announced it will partner landowner LJ Development (KL) Sdn Bhd to develop a mixed project in Klang, Selangor, with an estimated gross development value of RM80 million.

For its financial year ended June 30, 2017 (FY17), Tiger Synergy said its net loss widened to RM6.09 million from RM2.02 million a year ago, dragged by lower margins and revenue "pending the launching of major new housing projects".

Full-year revenue declined 40.37% year-on-year to RM9.36 million from RM15.7 million.

At 5pm, shares of Tiger Synergy closed unchanged at 6 sen, giving it a market capitalisation of RM93.42 million.

 

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