Tanco Holdings Berhad has issued a statement regarding recent speculations about the group and its plunging share price, assuring investors that its business operations, strategic projects and development pipeline remain intact despite.
The group said it had responded to the Unusual Market Activity (UMA) query issued by Bursa Malaysia Securities Berhad and, following enquiries with its Board of Directors and major shareholders, confirmed that it was not aware of any undisclosed corporate developments that could have contributed to the recent trading activity.
Tanco said it does not speculate on share price movements but noted that the recent sharp decline appeared unusual given that its fundamental businesses, major projects and contracts remained sound.
“The recent market volatility does not impact the Group’s fundamental business operations, contractual obligations, or strategic direction,” Tanco said in a statement.
The company highlighted that its key initiatives, including its ongoing property developments, Smart AI Container Port and Port Dickson Free Zone in Negeri Sembilan, continue to progress according to their respective regulatory, technical, financing and commercial milestones.
Tanco also assured property purchasers that there have been no cancellations or suspensions of any development projects arising from the current market activity.
The group said the Smart AI Container Port remains a long-term private-led infrastructure initiative currently progressing through the necessary technical and regulatory stages.
Meanwhile, the Port Dickson Free Zone is positioned as a complementary development supporting Negeri Sembilan’s logistics and industrial growth agenda.
Tanco said both projects remain part of its broader strategy to participate in infrastructure and industrial development opportunities.
On its recently announced Memorandum of Understanding (MoU) with China Mobile International Limited, Tanco reiterated that the collaboration remains at an exploratory stage.
The MoU relates to a potential development of a 50MW data centre in Port Dickson.
The group stressed that the proposed collaboration is not expected to have any immediate material financial impact as discussions and evaluations are still ongoing.
Tanco share price is down close to 90% from six months ago to 0.13 today.
