Suiwah shares hit limit-up on privatisation plan

Suiwah manages a portfolio of departmental stores, supermarkets, malls, convenient stores and event halls on Penang island under the trade name of Sunshine. The company is also involved in property development and the semiconductor industry.

PETALING JAYA: Suiwah Corp Bhd, whose share price dropped to a five-year low a month ago, surged 22.94% yesterday following the decision of its major shareholder to privatise the retail firm.

The Penang-based Suiwah’s shares hit limit-up in morning trade, rising 65 sen or about 30% to an intra-day high of RM2.83.