Amcorp Properties shares suspended pending material announcement

KUALA LUMPUR (May 7): Trading of Amcorp Properties Bhd shares are temporarily suspended today, pending the release of a material announcement.

In a bourse filing, the group announced that Bursa Malaysia had approved its request for the one-day suspension of trading from 9am to 5pm today.

“The request for suspension is made under Subparagraph 3.1(b) of Practice Note 2 on Requests for Suspension of the Main Market Listing Requirements of Bursa Securities,” it said.

For the most recent financial quarter ended Dec 31, 2020 (3QFY21), the group posted a net loss of RM189 million from RM8.47 million a year prior. Meanwhile, its quarterly revenue declined by 34% year-on-year (y-o-y) to RM43.1 million from RM65.55 million a year prior.

For the cumulative nine months ended Dec 31, 2020 (9MFY21), net profit fell by 78% to RM2.49 million from RM11.63 million. Nine-month revenue declined by 29% to RM101.53 million from RM142.95 million.

Shares in Amcorp Properties were last traded at 54.5 sen, valuing the stock at RM399.58 million.

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