Zecon falls 7.55% after disposal of stake in unit postponed

KUALA LUMPUR (Nov 21): Shares in Zecon Bhd fell 7.55% in active trade this morning after the construction firm, which was supposed to sign a proposed disposal of a 49% stake in its wholly-owned subsidiary Zecon Medicare Sdn Bhd for RM155 million, said the signing has been delayed to a date to be determined later.

At 9.16am, Zecon fell 6 sen to 73.5 sen with 1.38 million shares done.

However, it did not disclose the reason for the postponement.

Zecon said a detailed announcement on the transaction will be made in due course once the agreement has been signed. — theedgemarkets.com

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