Kris Assets shares close 27% higher

PETALING JAYA: Kris Assets Holdings Bhd closed up a hefty 27%, or 1.5 sen, to 7 sen, even as it issued a circular to shareholders yesterday seeking their approval to wind-up the company.

With 67 million shares changing hands, Kris Assets was the secondmost active counter across the local bourse, which was broadly positive despite election concerns following the dissolution of Parliament on Wednesday.

The firm, which used to own Midvalley Megamall and The Gardens Mall until they were injected into IGB REIT last year, would be suspended from trading on April 27.

According to the circular, its board needs 75% of shareholders’ consent for its winding-up at an EGM, as well as the appointment of liquidators to settle its debts and return any surplus capital to shareholders.

Kris Assets’ estimated surplus assets as at March 17, after paying its debts in full, was eight sen.