TA Enterprise, TA Global request for trading suspension

TA Enterprise, TA Global request for trading suspension
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KUALA LUMPUR (Feb 11): Trading in shares of retail stockbroking firm TA Enterprise Bhd and its subsidiary TA Global Bhd will be suspended from 9am tomorrow (Wednesday).

In separate filings with Bursa Malaysia, both companies said the trading suspensions are to make way for a material announcement.

TA Enterprise owns a 60.17% stake in TA Global, which is involved in property development, property investment and property management.

Both companies share a common substantial shareholder in chairman Datuk Tiah Thee Kian. Tiah owns a direct 41.92% in TA Enterprise and 10.13% in TA Global, the bourse filings show.

The 73 year-old initiated the listing of TA Enterprise in 1990 and has been at its helm since, where he is responsible for the group’s overall strategic direction.

Shares of TA Enterprise settled unchanged at 54 sen apiece at today’s close, giving it a market capitalisation of RM924.43 million. TA Global shares closed half a sen or 2.13% lower at 23 sen a share, valuing the company at RM1.22 billion.