KUALA LUMPUR (Feb 17): After 23 years of being listed on the Main Market of Bursa Malaysia, the loss-making hypermarket operator The Store Corp Bhd announced that its shares will be delisted next Wednesday, Feb 22, following successful takeover by its group managing director Tan Sri Tang Yeam Soon and his wife Puan Sri Khor Guik Lee via their private vehicle TYS Consolidated Sdn Bhd.

"The Board of Directors wishes to announce that Bursa Malaysia has, vide its letter dated Feb 17, 2017, informed that pursuant to Paragraph 16.07 of the Main Market Listing Requirements of Bursa Securities, the entire issued shares of The Store will be removed from its official list with effect from 9am, Wednesday, Feb 22, 2017," the company said in a filing with the local bourse this evening.

The Store first opened its outlet in Bukit Mertajam, Penang, in 1968.

Today, The Store operates 75 hypermarkets across Malaysia, with 49 The Store Supermarket & Departmental Stores, nine Pacific Hypermarket & Departmental Stores in Peninsular Malaysia, and 17 Milimewa Superstores in Sabah.

The Store shares have been suspended since Feb 10.

The stock was last traded at RM3.63.