IWCity: No fresh bid submitted for Bandar Malaysia

PETALING JAYA: Iskandar Waterfront City Bhd (IWCity) said there was no new bid for the Bandar Malaysia project amid the recent spike in shares of IWCity and Ekovest Bhd.

Clarifying on the unusual share price movement, IWCity said in a filing with the stock exchange that its parent company Iskandar Waterfront Holdings Sdn Bhd (IWH) has not submitted any renewed bid for the Bandar Malaysia project.

IWCity went on to say that it was unaware of any news that prompted its share price to soar 42.1% in the past two trading days. The stock closed 6.5 sen or 8.7% higher at 81 sen today on 145.43 million shares done, being the second most actively traded stock.

Meanwhile, Ekovest, which has risen 12.4% these two days, settled at 72.5 sen today, up half a sen or 0.7% with 49.81 million shares changing hands.

Both Ekovest and IWCity are controlled by tycoon Lim Kang Hoo.

Speculation is mounting over the renewed Bandar Malaysia talks after Damansara MP Tony Pua said in a parliament sitting yesterday that no firm has come forward to become the the master developer of the mega project despite open tender offers.