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SUNSURIA-WA : Strong Selling Pressure

The share price of Sunsuria Berhad surged on 29th April to as high as 92 sen after the company announced that it has signed a Memorandum of Understanding (MOU) with Chinese logistics provider Sinotrans Limited (“Sinotrans”) to explore business opportunities in Smart Logistics Park and Business, as well as a Strategic Cooperation Agreement (SCA) with Chinese automotive design and engineering firm IAT Automobile Technology Co., Ltd (“IAT”) on ASEAN Automotive Design & Innovation Centre for product research & design, talent development and smart technology.  The agreements were formalised by Sunsuria executive chairman Tan Sri Ter Leong Yap, who joined the Malaysian delegation to the Second Belt and Road Forum for International Cooperation in Beijing.  With renewed investors’ interest, Sunsuria also announced the price fixing for its upcoming private placement of up to 10% share capital at 70 sen for the first tranche.  The share price retreated  to close at 73 sen on 30th April 2019.

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