KUALA LUMPUR: Shares of ENG TEKNOLOGI HOLDINGS BHD [] fell to RM2 in afternoon trade on Tuesday, Oct 11 after its two units in Ayutthaya, Thailand'' temporarily shut down their operations due to severe flood condition there.

At 3.11pm, it was down five sen to RM2.'' There were 1.30 million shares done at prices ranging from RM1.99 to RM2.07.

The FBM KLCI rose 16.10 points to 1,413.14. There were 725.29 million shares done valued at the RM802.48 million. There were 553 gainers, 132 losers and 218 stocks unchanged.

Earlier Tuesday, Eng Tek said its units, Engtek (Thailand) Co. Ltd (ETCL) and Altum Precision Co. Ltd (APT), had temporarily shut down operations.

The company said it was in the process of determining the extent of the damage, which it said were adequately covered by its insurance policies. The news had sent the share price lower.

However, at RM2, the current share price offered a 50 sen upside to the takeover offer price made in July 2011 by the major shareholders.

The shareholders via TYK Capital Sdn Bhd had proposed to acquire the entire business and undertakings of Eng Tek (including all the assets and liabilities) for an aggregate purchase consideration that is equivalent to RM2.50 per share.