KUALA LUMPUR: Suiwah Corp Bhd’s shares surged 22% in early trade Monday after its major shareholder offered to take the company private by way of a selective capital reduction (SCR) and repayment exercise.
The Penang-based company surged 22.02% or 48 sen in early trade to RM2.66, its highest since December 2017. It is also the top gainer on Bursa Malaysia. It is currently trading at a PE ratio of 11.36 times.
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