KUALA LUMPUR (March 1): SILVER BIRD GROUP BHD [] saw RM79.30 million erased from its market capitalisation on Thursday as its share price was almost halved following alleged irregularities in its accounts.
At 3.20pm, it was down 19.5 sen to 21 sen with 21.11 million shares done. Based on the paid-up of 406.681 million shares at the pre-suspension price of 40.5 sen, the market capitalisation was reduced to RM83.369 million.
Silver Bird Group suspended its group managing director, Datuk Tan Han Kook and two other key executives effective Feb 24 as it undertakes an internal inquiry into allegations of irregularities in the company’s accounts which may amount to approximately RM111.5 million.
At 3.20pm, it was down 19.5 sen to 21 sen with 21.11 million shares done. Based on the paid-up of 406.681 million shares at the pre-suspension price of 40.5 sen, the market capitalisation was reduced to RM83.369 million.
Silver Bird Group suspended its group managing director, Datuk Tan Han Kook and two other key executives effective Feb 24 as it undertakes an internal inquiry into allegations of irregularities in the company’s accounts which may amount to approximately RM111.5 million.
