SC issues Atta, Heng Huat suspension directive after police seized key individuals' trading accounts

SC issues Atta, Heng Huat suspension directive after police seized trading accounts

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KUALA LUMPUR (Jan 17): The Securities Commission Malaysia (SC) said it issued its directive to Bursa Malaysia to suspend Atta Global Group Bhd and Heng Huat Resources Group Bhd's securities trade after the Royal Malaysia Police seized trading accounts belonging to several key individuals involved in these companies.

In an emailed statement in response to queries by theedgemarkets.com, an SC spokesperson said: "The directive to Bursa was issued pursuant to sections 26 and 28 of the Capital Markets and Services Act 2007, following the seizure of the trading accounts of several key individuals involved in these companies by Polis Diraja Malaysia (Royal Malaysia Police)."

Yesterday, diversified company Atta and biomass material manufacturer and trader Heng Huat announced in separate statements on Bursa's website that trading of their securities has been suspended with effect from 12.08pm yesterday pursuant to the SC's directive.

Prior to the suspension, shares of Main Market-listed Atta traded up one sen or 2.3% at 44.5 sen for a market capitalisation of RM92.94 million. ACE Market-listed Heng Huat's share price was unchanged at 3.5 sen for a market value of RM11.88 million.

Atta's website indicates that its group of companies' diversified businesses include property development and manufacturing of steel furniture.

See also: SC orders trading suspension of Atta, Heng Huat securities