News about YNH Property

At the time of writing, YNH Property, the property developer linked to prominent investor Datuk Dr Yu Kuan Chon, witnessed an all-time high trading volume of 218.

This marks the third time that YNH, which is linked to prominent investor Datuk Dr Yu Kuan Chon, hit limit down within the past two weeks.

This downgrade reflects growing concerns over YNH's weak liquidity position and further delays in the sale of assets, which is much-needed for cash infusion.

The property developer said this announcement serves to rectify its oversight pertaining to the proposed acquisition and is made in accordance with Chapter 10 of the Main Market Listing Requirements of Bursa Malaysia Securities Bhd.

The freeze was due to the counter trading at static limit down prices for two consecutive days, Bursa said in a stock exchange filing on Wednesday.

Rapid Synergy, YNH Property and Imaspro had received unusual market activity queries from Bursa Malaysia last week and had responded to the local stock exchange operator.

On Thursday, Rapid Synergy Bhd replied to Bursa's query about the steep drop in its share price, saying its management is currently considering proposals to sell certain landed properties of the company and its subsidiaries.

YNH said SSF & Co’s report commented that an analysis was carried out on 17 agreements entered into by Kar Sin, and they “do not appear on the face of it to be scams as alleged in various reports found on Facebook or the internet”.

Moving forward, YNH expects its Solasta Dutamas residential development project in Mont’Kiara, which has a gross development value of RM750 million, to contribute positively to the group in the next three financial years.

Ching and Ding have both reached the tenure limit allowed for independent directors after serving the company for over 12 years, according to the group’s filing on the local bourse on Wednesday (May 31).