IWC, Ekovest top active counters after fresh news on Bandar Malaysia

13 Dec 2019 / 18:03 H.

KUALA LUMPUR: Iskandar Waterfront City Bhd (IWC) and Ekovest Bhd are the top two actively traded counters on Bursa Malaysia today following news on the latest development on the Bandar Malaysia project.

It was reported that IWH CREC consortium, a joint-venture between Iskandar Waterfront Holdings Sdn Bhd (IWH) and China Railway Group Ltd (CREC) will hold a signing ceremony for the Bandar Malaysia development next Tuesday.

The news report said Prime Minister Tun Dr Mahathir Mohamad, China's ambassador to Malaysia Bai Tian, Finance Minister Lim Guan Eng, and the president of China Railway Engineering Ltd, Chen Yun will witness the signing of a share sale agreement and shareholder's agreement.

Bandar Malaysia project, with an expected gross development value of RM140 billion, would have a significant impact on Malaysia’s economy and would serve as a global hub to further attract high impact global finance, technology and entrepreneurial firms.

Ekovest executive chairman Tan Sri Lim Kang Hoo is the common shareholder in Ekovest and IWC while IWH is Lim’s investment vehicle.

At the close today, Ekovest’s shares rose 9.5 sen to 90.5 sen with 323.23million shares changing hands.

Meanwhile, IWC surged 11.5 sen to RM1.02 with 109.50 million shares traded. - Bernama

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