PETALING JAYA: Tanco Holdings Bhd
has sought to reassure investors and stakeholders following recent volatility in its share price, stating that its business operations, projects and strategic plans remain unaffected.
In a statement on Monday, the Main Market-listed company said it had responded to an Unusual Market Activity (UMA) query issued by Bursa Malaysia Securities Bhd.
The group’s share price fell another seven sen, or 35%, to close at 13 sen yesterday. On June 3, its shares closed at RM1.76, which means in less than two weeks, its share price had plunged by almost 93%.
Following enquiries with its board and major shareholders, Tanco said it was not aware of any undisclosed corporate developments that could explain the recent trading activity.
The group said it does not speculate on movements in its share price, but noted that the recent decline appeared unusual given that its core businesses and major projects remain intact.
Tanco said ongoing initiatives, including its property developments, the proposed Smart AI Container Port and the Port Dickson Free Zone in Negeri Sembilan, continue to progress in line with regulatory, technical, financing and commercial milestones.
The company also assured property buyers that none of its development projects had been cancelled or suspended as a result of recent market activity.
Tanco added that the Smart AI Container Port remains a long-term private-sector infrastructure project, while the Port Dickson Free Zone is intended to support the state's logistics and industrial development agenda.
Meanwhile, the group reiterated that its memorandum of understanding with China Mobile International Ltd to explore the development of a 50MW data centre in Port Dickson remains at an exploratory stage and is not expected to have an immediate material financial impact.
Tanco said its board and management remain committed to timely market disclosures, business continuity and long-term value creation.
