Scientex shares to be suspended tomorrow

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KUALA LUMPUR (Sept 23): Scientex Bhd will have the trading of its shares suspended tomorrow (Sept 24) from 9 am, due to material announcement.

In a filing with Bursa Malaysia this evening, Scientex said this was "pending the release of a material announcement, the holding of a press conference before the close of trading on Sept 24".

The announcement is expected to be related to an earlier filing made with Bursa on Aug 08, with regard to a strategic alliance agreement signed with Japan-based plastic film manufacturer Futamura Chemical Co., Ltd, according to executives familiar with the company.

In an announcement in August, Scientex said both Futumura and its wholly-owned unit, Scientex Packaging Film Sdn Bhd, will build a biaxially oriented polypropylene film manufacturing plant, and to develop and grow the consumer packaging markets

The stock closed seven sen higher at RM6.95, with a market capitalisation of RM1.5 billion.