KUALA LUMPUR (Nov 8): Projektarbelt Technische Beratung Venretung International (Protev) has completed its first phase of due diligence of SANICHI TECHNOLOGY BHD [].
Sanichi, whose shares were voluntarily suspended from 3.12pm on Tuesday, later confirmed Protev had completed the first phase was expected to conclude phase two early 2012.
The company was earlier queried by Bursa Malaysia Securities over the unusual market activity in the trading of its shares.
In its earlier response, Sanichi said: “After having made due enquiries with the directors and major shareholders, the company wishes to advise that, to the best of their knowledge and belief, the directors and major shareholder are not aware of any of the following that may have contributed to the unusual market activity.”
The shares rose 0.5 sen to 9 sen with 81.29 million units done before trading was suspended.
On Aug 4, Sanichi said Protev had started its due diligence amid market talk was that Protev could be keen to take a major stake in the ACE Market-listed company.
It had on June 8 said it had signed a memorandum of understanding with Protev.
Sanichi, whose shares were voluntarily suspended from 3.12pm on Tuesday, later confirmed Protev had completed the first phase was expected to conclude phase two early 2012.
The company was earlier queried by Bursa Malaysia Securities over the unusual market activity in the trading of its shares.
In its earlier response, Sanichi said: “After having made due enquiries with the directors and major shareholders, the company wishes to advise that, to the best of their knowledge and belief, the directors and major shareholder are not aware of any of the following that may have contributed to the unusual market activity.”
The shares rose 0.5 sen to 9 sen with 81.29 million units done before trading was suspended.
On Aug 4, Sanichi said Protev had started its due diligence amid market talk was that Protev could be keen to take a major stake in the ACE Market-listed company.
It had on June 8 said it had signed a memorandum of understanding with Protev.
