KUALA LUMPUR: Petaling Tin Bhd said yesterday its shares will be suspended effective from Aug 3, following the takeover of the company by gaming tycoon Tan Sri Dr Chen Lip Keong.
The company announced last week that Chen had received valid acceptances in respect of the takeover offer, resulting in him holding more than 90% of the total voting shares.
As at last Thursday, the closing date of the offer, Chen held a total of 95.2% of Petaling Tin shares.
Chen has no intention to maintain the listing status of Petaling Tin, a loss-making property development company.