KUALA LUMPUR (Dec 2): SYF RESOURCES BHD []’s shares and warrants jumped in active trade on Friday as speculators chased up the securities after the recent announcement that it was venturing into property development.
At 3.24pm, SYF was up 15.5 sen to 63.5 sen with 41.69 million shares done while SYF-WA surged 14.5 sen to 41.5 sen with 66.59 million units done.
The FBM KLCI was down 1.66 points to 1,483.60. Turnover was 1.07 billion shares valued at RM774.01 million. Declining stocks beat advancers 398 to 261 while 278 counters were unchanged.
On Nov 14, Bursa Malaysia Securities had queried the board by over the sharp rise in the volume and price.
In a response, SYF said it was buying 3.92 ha of freehold agriculture land in Semenyih, Selangor for RM5.06 million while the open market value was RM4.89 million using the comparison method of valuation.
“The property which has been zoned for industrial use, is located off the Jalan Sungai Lalang main road and adjoins the existing newly completed Semenyih Hi-Tech Industrial Park. As the surrounding area is already developed with several industrial PROPERTIES [], the property has good potential for conversion and development into an industrial park,” the SYF board said.
At 3.24pm, SYF was up 15.5 sen to 63.5 sen with 41.69 million shares done while SYF-WA surged 14.5 sen to 41.5 sen with 66.59 million units done.
The FBM KLCI was down 1.66 points to 1,483.60. Turnover was 1.07 billion shares valued at RM774.01 million. Declining stocks beat advancers 398 to 261 while 278 counters were unchanged.
On Nov 14, Bursa Malaysia Securities had queried the board by over the sharp rise in the volume and price.
In a response, SYF said it was buying 3.92 ha of freehold agriculture land in Semenyih, Selangor for RM5.06 million while the open market value was RM4.89 million using the comparison method of valuation.
“The property which has been zoned for industrial use, is located off the Jalan Sungai Lalang main road and adjoins the existing newly completed Semenyih Hi-Tech Industrial Park. As the surrounding area is already developed with several industrial PROPERTIES [], the property has good potential for conversion and development into an industrial park,” the SYF board said.
