<div class="mt-3 imgw-300 embed-right"><a class="mobx embedimg-icon" data-rel="ceolightbox" href="//myassets.theedgemalaysia.com/pics/2024/tanco-price-chart-18012024.png"><img alt="" src="//myassets.theedgemalaysia.com/pics/2024/tanco-price-chart-18012024.png" /></a></div>

<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Jan 18): The selling wave on penny stocks hit Tanco Holdings Bhd on Thursday morning, with its shares tumbling by 17.5 sen or 26.72% after the opening bell, prompting Bursa Securities to suspend the counter's intraday short selling.</p></div>

<div class=newsTextDataWrapInner><p>At the time of writing, shares of Tanco have plunged to 48 sen from 65.5 sen, wiping out all its gains accumulated since October last year. Just Tuesday, the stock hit its five-year high at 65.5 sen.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The thinly traded stock has seen a trading volume of 44.38 million as of 11am. At 48 sen, the company has a market capitalisation of RM971.6 million, down RM354.25 million from RM1.32 billion on Tuesday.</p></div>

<div class=newsTextDataWrapInner><p>The substantial shareholders of the company are TJN Capital Sdn Bhd holding a 39.20% stake and Tan Jun Suan holding 10.97%.</p></div>

<div class=newsTextDataWrapInner><p>Tanco, which was listed on the Main Market in 1961, was principally engaged in plantation business activities in Kuantan, Pahang. It later diversified into property development, including projects like the Bandar Country Homes in Rawang. It has also moved into business related to tourism, leisure and entertainment.</p></div>

<div class=newsTextDataWrapInner><p><em>Read also:<br />
<a href="https://theedgemalaysia.com/node/697885" target="_blank">Tanco says it has no idea what's driving down its shares; MD ups stake</a></em></p></div>


The selling wave on penny stocks hit Tanco Holdings Bhd on Thursday morning, with its shares tumbling by 17.5 sen or 26.72% after the opening bell, prompting Bursa Securities to suspend the counter's intraday short selling.

Short selling suspended for Tanco after shares tumbled 27%

South Korea’s main opposition party said it will start impeachment proceedings against Prime Minister and Acting President Han Duck-soo.

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Swiss private equity firm Partners Group Holding AG is looking to rearrange its India portfolio that has quadrupled to more than US$8 billion (RM35.88 billion) since it first started investing in the country a decade ago, according to a top company official.

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Agrochemicals giant Syngenta Group Co signed a US$4.5 billion (RM20.2 billion) sustainability-linked loan, according to a company statement on Monday, in Asia’s largest such dollar facility this year.

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Panama President Jose Raul Mulino rallied support from former presidents in defence of the country’s canal following threats from Donald Trump to reimpose US control over the waterway.

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Stocks in Asia traded in tight ranges amid relatively thin holiday trading after a rally in some of the world’s largest technology companies boosted US benchmarks.

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Oil prices were up on Tuesday in thin trade ahead of the Christmas Day holiday, with prices supported by US economic data and rising oil demand in India, the world's third-largest oil importer.

Oil prices up in thin pre-Christmas trade

Taiwan Semiconductor Manufacturing Co (TSMC) shares touched a record high, as the world’s largest contract chipmaker is poised to cap its best annual stock performance in 25 years.

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<p>Here is a brief recap of some business news and corporate announcements that made the headlines on Monday.</p>


KLCCP Stapled, Tuju Setia, Coastal Contracts, Powerwell, Prolintas, Malayan Flour Mills, Malakoff, Heitech Padu, Supercomnet, ECM Libra, Esthetics International 

<p>The Energy Commission (EC) was to inform winners of the fifth large scale solar bidding round (LSS5) beginning Monday, following nine months of deliberation since it was opened in April this year.</p>


Energy Commission says LSS5 bids finalised but mum on winners

<p>Singapore forged ahead with efforts to formulate a digital-assets hub in 2024, while rival financial center Hong Kong has struggled to gain traction.</p>


Singapore pulls ahead of Hong Kong in race to be crypto hub

<p>Stocks in Asia traded in tight ranges amid relatively thin holiday trading after a rally in some of the world’s largest technology companies boosted US benchmarks.</p>


<p>Corporate services provider Amicorp Group has denied allegations it knowingly facilitated more than US$7 billion (RM31.43 billion) in fraudulent transactions related to the misappropriation of funds from scandal-hit Malaysian state fund 1Malaysia Development Bhd (1MDB).</p>


Amicorp Group denies alleged fraud of over US$7b in 1MDB scandal

<p>The Malaysian Communications and Multimedia Commission (MCMC) is taking immediate action to address scams relating to MyPR (Red IC) application on Facebook, said Deputy Communications Minister Teo Nie Ching.</p>


Deputy minister urges caution, vows swift action against red IC scams

<p>China’s real estate woes look set to get worse before they get better, raising the prospect of a miserable year for property shares despite a recent bounce.</p>


China’s property stock rebound faces a reality check in 2025

<p>A rally in some of the world’s largest technology companies spurred a rebound in stocks, following a brief slide fueled by weaker-than-expected data on US consumer confidence.</p>

<p>In a thin trading session at the start of a holiday-shortened week, the S&amp;P 500 finished near session highs. Nvidia Corp., Meta Platforms Inc. and Tesla Inc. drove a gauge of the “Magnificent Seven” megacaps up almost 1.5%.</p>


US stocks get boost from tech at start of Christmas week

<p>Taiwan Semiconductor Manufacturing Co (TSMC) shares touched a record high, as the world’s largest contract chipmaker is poised to cap its best annual stock performance in 25 years.</p>


<p>Walmart Inc and one of its financial technology partners allegedly opened expensive bank accounts for delivery drivers without their consent, a US consumer protection agency said on Monday.</p>


CFPB sues Walmart, fintech partner for illegal account openings

<p>Wall Street's main indexes were mixed at the start of a holiday-shortened week on Monday, after a stopgap government funding bill averted a partial shutdown and investors braced for a slower pace of rate cuts from the US central bank next year.</p>


Wall Street opens mixed as holiday-shortened week starts

<p>US consumer confidence unexpectedly sank in December for the first time in three months on concerns about the outlook for the economy amid uncertainty around the Trump administration’s policies.</p>


US consumer confidence falls as politics weigh on outlook

<p>Daiwa Securities Group Inc may need more time to achieve profit in China, according to the head of Japan’s second biggest brokerage, reflecting how investment banks continue to struggle on the mainland.</p>


Daiwa’s China venture may take longer to make profit, says CEO 

<p>New-home sales in the US rebounded last month as builders and consumers sealed deals that had been delayed by storms in the South, and buyers took advantage of heavy sales incentives.</p>

<p>Sales of new single-family homes increased 5.9% last month to a 664,000 annualised rate, according to government data issued on Monday.</p>


US new-home sales rebound in November after storm-stricken month

<p>South Korea's consumer sentiment dropped sharply this month to hit the weakest level in more than two years on growing worries about political uncertainty following parliament's impeachment of President Yoon Suk Yeol.</p>


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<p>Orders placed with US factories for business equipment rebounded in November, posting the strongest monthly advance in over a year.</p>


Orders for US business equipment rise by most in over a year

<p>Australia’s balance of risks is tilted to the downside, including a potential stall in disinflation, the International Monetary Fund (IMF) said, calling on the government to avoid excessive spending.</p>


Australia’s risks tilt to downside, IMF says, urging restraint

<p>Oil prices were up on Tuesday in thin trade ahead of the Christmas Day holiday, with prices supported by US economic data and rising oil demand in India, the world's third-largest oil importer.</p>


<p>Panama President Jose Raul Mulino rallied support from former presidents in defence of the country’s canal following threats from Donald Trump to reimpose US control over the waterway.</p>
