KUALA LUMPUR: Trading in Anzo Holdings Bhd's securities has been suspended at the request of the company with effect from 4.22pm today, pending an announcement.
Anzo did not provide details of the announcement but sources close to it said a major deal was expected this week.
"The major shareholders of Anzo have been talking to many parties both local and foreign to add value to the company. The announcement that is expected this week will be a game changer for Anzo," said the sources.
The New Straits Times (NST) reported last week that something was brewing in Anzo, which manufactures and markets timber products for housing and building projects in Malaysia.
There have been talks of new investors coming in and inject new business in the company that may mitigate some of the adverse impact of the Covid-19 pandemic.
Speculation is rife that Anzo is also close to securing a major deal with a foreign party that is non-related to its existing business.
The stock closed two sen or 15.38 per cent higher prior to the suspension today at 15 sen, raising its market capitalisation to RM132.78 million.
It was the seventh highest traded stock volume-wise on Bursa Malaysia.
A total of 90.1 million shares were traded before the suspension.
The closing price of 15 sen is also Anzo's highest traded price over the last three years.
In April 2017, the stock had been trading around 40 to 50 sen range.
In a filing with Bursa on June 23, Anzo said some foreign investors had acquired shares in the company.
The filing was in response to an enquiry from Bursa following the NST article.