KUALA LUMPUR (May 18): MKH Bhd (KL:MKH) on Monday confirmed that its major shareholder, Chen Choy & Sons Realty Sdn Bhd, is “periodically in discussions” with external parties, but denied that a corporate exercise involving the company and its subsidiary MKH Oil Palm (East Kalimantan) Bhd (KL:MKHOP) is in the works.
The filing with Bursa Malaysia was made in response to an unusual market activity (UMA) query issued last Friday, after a sharp rise in MKH’s share price and heavy trading.
The stock hit its daily upper limit of RM1.46 after surging 29%, with trading volume swelling to nearly 27 million shares, the highest since its listing in 1995 when the company was known as Metro Kajang Holdings Bhd.
Commenting on the discussions by Chen Choy & Sons Realty, which owns a 14.76% direct stake and a 26.2% indirect interest in MKH, the company’s board of directors said there is no assurance that the discussions will result in any definitive agreement or transaction, or as to the final terms on which any such transaction might be made. No further details were provided.
MKH, however, “categorically” denied the contents of an article by The Edge Malaysia weekly’s May 18-24, 2026 issue entitled “Corporate exercise in the offing at MKH”, which suggested a possible major corporate exercise involving MKH and its 65.3%-owned subsidiary MKH Oil Palm, based on unnamed sources.
“The company will make the appropriate announcement in strict compliance with the Main Market Listing Requirements of Bursa Malaysia Securities Bhd should there be any material developments regarding this matter,” it added.
The company also said its business operations “remain materially unchanged” and that it is in compliance with Bursa Malaysia’s listing requirements on immediate disclosure obligations.
Shares of MKH, which continued to climb on Monday, closed 27 sen or 18.49% higher at RM1.73 — marking its nine-year high since June 2017 — giving the company a market capitalisation of RM998 million. During trading hours, the group surged as much as 30 sen or 20.55% to an intraday high of RM1.76, after opening 14 sen higher at RM1.60.
The rally had prompted Bursa Malaysia to issue the UMA query. Year to date, the stock is up 70%.