KUALA LUMPUR NAIM INDAH CORPORATION BHD []’s major shareholder, Crest Energy Sdn Bhd is said to be in discussions with various parties to dispose of the shares.

Naim Indah said that no details of the proposed disposal, including the price, had been finalised.

“Further details of the proposed disposal will be announced in due course. Please note that at this moment, there is no certainty of the proposed disposal will be successful,” it said.

Naim Indah was responding to a query from Bursa Malaysia Securities over the sharp rise in price and high volume of the shares recently.

According to the company’s annual report, Crest Energy owns the 22.8% stake which comprises of 160.06 million shares.

However, Naim Indah did not state the name of the shareholder in its reply to the query.

The share price closed nine sen higher at 18 sen with 260.53 million shares done.