Thursday 28 Mar 2024
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KUALA LUMPUR (Jul 3): JAKS Resources Bhd has requested for a suspension of trading of its securities next Monday (July 6), pending a material announcement.

Next Monday, JAKS is due to sign an agreement with a new equity partner, to jointly develop a 1,200MW coal-fired power plant in Hai Duong Province, Vietnam, which is under a build-operate-transfer contract.

In a filing with Bursa Malaysia today, JAKS said the request for suspension is made under subparagraph 3.1(b) of Practice Note No. 2 on Requests for Suspension of the Main Market Listing Requirements of Bursa Securities.
 
JAKS is primarily engaged in the integrated water works industry. It is also involved in the designing and construction of sewerage treatment facilities, as well as manufacturing of mild steel pipes and other steel products.

The company's shares have been actively traded since Wednesday, which saw 24.2 million and 28.27 million changing hands on Wednesday and Thursday, respectively. Some 33.59 million shares changed hands today.

JAKS' (fundamental: 0.65; valuation: 1.5) shares closed down 2.34% at 83.5 sen today, giving it a market capitalisation of RM374.8 million.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

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