KUALA LUMPUR (Feb 2): Trading in the shares of The Store Corp Bhd will be suspended from next Friday (Feb 10), the company said today.

This follows the owner’s decision not to maintain its listing status on the Main Market of Bursa Malaysia.

Group managing director Tan Sri Tang Yeam Soon’s family vehicle TYS Consolidated Sdn Bhd controls 66.99 million shares or 97.8% of The Store, according an earlier filing to Bursa Malaysia.

On Dec 19 last year, Tang and his wife, executive director Puan Sri Khor Guik Lee, had — via TYS — made a mandatory general offer to acquire the remaining shares of The Store that they did not own at RM3.52 per share.

This followed their acquisition of 9.5 million shares or a 13.88% stake in The Store for RM33.5 million or RM3.52 a piece on Nov 28.

The duo had bought the block from Nirvana Asia Ltd founder Tan Sri Kong Hon Kong, who had held the shares for less than a month after being offered the stake by Berjaya Group founder Tan Sri Vincent Tan.

On Dec 23, TYS Consolidated raised its offer to RM3.70 a share.

The Store’s shares were last traded at RM3.61, giving a market capitalisation of RM247.3 million.