CIH: It is not aware of any rumour or report concerning the business and affairs of the company that may account for the unusual sharp rise in its share price.
However it is in the midst of negotiating with several parties regarding a possible corporate exercise involving the group. As the negotiation is still at its preliminary stage and still in flux it would be highly irresponsible of it to make any premature and incomplete announcement to Bursa Securities, regarding the aforesaid possible Corporate Exercise at this moment.
Besides that, it was not aware of any other possible explanation that may account for its stocks’ unusual market activity.
CI Holdings is a manufacturer of edible oils, taps and sanitary ware.
Nexgram: Its development arm, Nexgram Land Sdn Bhd, expects a net profit of RM293mil in the next five years from Feb 2015 via its mixed development projects in Cyberjaya and Putrajaya.
Both projects are expected to start in mid-year 2015.
The projects will also enhance Nexgram Land's future earnings visibility and mark a milestone in the company's diversification into property development.
The Cyberjaya-project, which had been entirely purchased by MyAngkasa Bina Sdn Bhd for RM1.1 billion, comprises commercial shops, a high-end small office versatile office residence, a hotel and corporate office building.
The Putrajaya project would be jointly developed with Top Valley Properties, and comprise three blocks of residential units. This project too has been sold to MyAngkasa for RM400mil.
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