
KUALA LUMPUR (April 1): Concrete Engineering Products Bhd (KL:CEPCO) has requested a suspension in the trading of its shares pending an announcement.
The company, which manufactures prestressed spun concrete piles and poles, said its shares would be suspended starting at 9am on Wednesday. The company’s last price was RM1.87, which gives the company a market capitalisation of RM139.5 million.
On March 17, the company announced it was settling a RM16.8 million debt to its major shareholder Datuk Muhamad Fasri Samsudin through a transfer of a 12.68% stake in Inch Kenneth Kajang Rubber plc (KL:INCKEN).
Once the settlement agreement is completed, the company will no longer be a major shareholder in Inch Kenneth Kajang, keeping only a small 0.82% stake.