Thursday 28 Mar 2024
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KUALA LUMPUR (Aug 17): Securities prices of information technology (IT) firm MSCM Holdings Bhd hit limit up today after the company’s preference shares (MYSCM-PA) and warrants (MYSCM-WA) rose as much as 30 sen each to RM1.10, while its ordinary shares added as much as 29.5 sen to RM1.20.

At 3.36pm, MYSCM-PA, MYSCM-WA and MSCM ordinary shares were the eighth, ninth and 10th largest gainers across Bursa Malaysia.

MSCM this month made several crucial announcements, which included a new substantial shareholder and proposed change of the company's name.

On Aug 5, MSCM said in a Bursa filing that Penang-based Hong Seng Assembly Sdn Bhd had become a substantial shareholder of MSCM after Hong Seng a day earlier acquired 95.21 million shares or a 29.885% stake in MSCM via a direct business transaction.

In a separate filing on Aug 5, MSCM said MMAG Holdings Bhd had ceased to be a substantial shareholder of MSCM after MMAG disposed of 95.21 million shares in MSCM.

MSCM also said in another Aug 5 filing that the company had proposed to seek its shareholders' approval to change the name of the company from MSCM Holdings Bhd to Hong Seng Consolidated Bhd in a general meeting to be convened on a date to be announced later.

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