KUALA LUMPUR (Jan 24): Suiwah Corp Bhd announced it has requested for the trading of its securities to be suspended from 9am to 5pm tomorrow (Jan 25), pending the release of a material announcement. 

“This request for suspension is made under Paragraph 3.1(b) of Practice Note 2 on Requests for Suspension of the Main Market Listing Requirements of Bursa Malaysia Securities Bhd,” Suiwah said.

Suiwah is involved primarily in the manufacturing of circuit boards. Other business segments include the operation of malls and convenience stores in Penang through the ‘Sunshine’ and ‘Suiwah’ brand name, property development, as well as trading.

In July last year, it was reported that Suiwah is planning to expand its five-year old online shopping platform to drive the group’s growth in 2019 and beyond.

Separately, its wholly-owned manufacturing subsidiary Qdos Holdings Bhd is in the midst of a long-term expansion plan: the development of its manufacturing plant in Batu Kawan, Penang across four phases since 2017, in line with the planned release of several new products.

Since Dec 26, 2018, Suiwah Corp’s share price has been rising steadily from RM1.92, its lowest in nearly five years. 

The counter last traded six sen or 2.83% higher to RM2.18 on Jan 14 — still far from its three-year high of RM3 apiece seen in September 2017. The group has a market capitalisation of RM132.98 million.