KUALA LUMPUR (Jan 17): Silk Holdings Bhd, which has seen a surge in its share price since the beginning of the year, recording a 19.12% increase year to date, will be suspended from trading on Wednesday from 9am to 5pm, pending the release of an announcement relating to a material transaction.

According to a filing with Bursa Malaysia today, "the request for suspension is made under subparagraphs 3.1(b) of Practice Note 2 on Requests for Suspension of the Main Market Listing requirements of Bursa Malaysia Securities Bhd".

At its close, the counter has risen by 1.25% or 0.5 sen to 40.5 sen, with 1.18 million shares changing hands, giving it a market capitalisation of RM284.1 million.