Ho Hup shares up on JV news

PETALING JAYA: Ho Hup Construction Co Bhd's share price rose half a sen or 1.02% this morning, after it entered into a joint venture agreement for the proposed development of a mixed project in Pahang with an estimated gross development value of RM180 million.
At 11.49am, the stock stood at 49.5 sen with 232,000 shares changing hands, giving it a market capitalisation of RM183.7 million.
The group said its wholly owned subsidiary Ho Hup Ventures (Kuantan) Sdn Bhd and Koperasi Serbausaha Makmur Bhd (Kosma) have entered into a joint venture agreement for the proposed development.
Ho Hup said the proposed joint venture will enhance the group's future earnings and the reputation and track record as a construction and property development company in Malaysia.