KUALA LUMPUR (Dec 21) : Companies owned by tycoon Tan Sri Syed Mokhtar Albukhary, Tradewinds (M) Bhd, Tradewinds Plantation Bhd and Padiberas Nasional Bhd were suspended from trading.
In three separate announcements by the respective companies on Bursa Malaysia, each said the securities are being suspended pending an announcement.
Market observers said Tradewinds Malaysia might probably privatise both Tradewinds Plantation and Bernas, and streamline all its commodity-based businesses under one listed company.
Syed Mokhtar owns all three companies through its 42.97% shareholding in Tradewinds Malaysia. The company in turn holds 69.76% of Tradewinds Plantation and 72.57% of Bernas.
One observer said Tradewinds Malaysia might extend a mandatory general offer (MGO) to acquire all shares that it does not already own in both Tradewinds Plantation and Bernas.
Tradewinds Malaysia was last traded at RM7.75 as at 4.26 p.m. today, up 40 sen or 5.44% from yesterday's closing price, while Tradewinds Plantation was at RM4.23 per share when it was suspended, up 5 sen or 1.2%.
Bernas was traded unchanged when it was suspended at RM3.10 per share.