Alcom shares up 1.18% on plans to diversify into property development
03 Jan 2018 / 11:07 H.
PETALING JAYA: Aluminium Company of Malaysia Bhd's (Alcom) share price rose one sen or 1.18% this morning, following its announcement to diversify into property development with a RM500 million gross development value industrial park venture.
At 10.39am, the stock stood at 86 sen with 96,800 shares changing hands. Its market capitalisation stood at RM114.18 million.
The group said it is also planning to transfer its listing status to a new holding company in an effort to form separate identifiable business streams comprising aluminium product manufacturing and property development segments.
Alcom is currently involved in the manufacturing and trading of aluminium sheet and foil products.