Upper limit for SCGM warrants frozen at 60.5 sen

PETALING JAYA: The upper limit for SCGM Bhd warrants (SCGM-WA) has been frozen at 60.5 sen by Bursa Malaysia after it hit limit up yesterday.
At 2.35pm, the warrants fell 3.5 sen or 5.8% to 57 sen. SCGM's share price also dropped 2 sen or 0.7% to RM2.98 on some 129,000 shares done, giving it a market capitalisation of RM576.9 million.
The thermoform food packaging manufacturer yesterday said that it plans to invest RM133 million in the next two years to set up its first plant in the Klang Valley as well as a new one in Kulai, Johor.
The new plants are expected to increase the group's production capacity by 88%, said SCGM.