Sapura Resources down after denying asset injection plan

KUALA LUMPUR: Shares of Sapura Resources Bhd fell at mid-morning on Wednesday after the group denied talks of an asset injection plan.

At 10.32am, its shares were down four sen to RM1.15 with 609,600 shares traded between RM1.15 and RM1.18.

The FBM KLCI was down 3.27 points to 1,889.38. Turnover was 574.7 million shares valued at RM371.4mil. There were 196 gainers, 351 decliners and 306 counters unchanged.

It was reported that the announcement was made after Sapura Resources' share price rose to a one-year high of RM1.19 on Tuesday with 5.39 million shares traded.

In a filing with Bursa Malaysia on Tuesday, Sapura Resources said it was unaware of any plans of an asset injection.

"On behalf of the board of directors, we wish to announce that the company has not deliberated and is not aware of any plan on an asset injection that will add an oil and gas operation into its portfolio," it added.