SHARES of the country's only licensed rice supplier, Padiberas Nasional Bhd (Bernas), closed at their highest in more than two months yesterday on renewed speculation that it will be taken private.

The stock rose 2.4 per cent to close at RM2.13.

Budaya Generasi (M) Sdn Bhd, controlled by Tan Sri Syed Mokhtar Al Bukhary, holds 31 per cent of the company.

Other major shareholders like Wang Tak Co Ltd and Lembaga Tabung Haji have been raising their stake in Bernas over the last year or so.

Fund managers said the rumour of a buyout is not new.

"The share price has been rather firm these few weeks, bolstered by the continued purchase of the company's stock by existing shareholders," Philip Capital Management's Ang Kok Heng said.