PETALING JAYA: Lingkaran Trans Kota Holdings Bhd (Litrak) was the top gainer on Bursa Malaysia this morning, jumping to as high as RM5.00 on news that the government is offering to take over the four toll highways owned by Gamuda Bhd and Litrak for RM4.5 billion cash.
At 10.59am, Litrak was up 15.44% at RM4.86 on 1.2 million shares traded.
However, Gamuda fell 3.66% to RM3.69, making it the seventh most active stock and among the top 10 losers on the bourse.
It was reported that Minister of Finance Inc has given offer letters to Gamuda’s subsidiaries and associate companies, namely 70%-owned unit Kesas Holdings Bhd, 52%-owned associate Sistem Penyuraian Trafik KL Barat Holdings Sdn Bhd (Sprint Holdings), 44%-owned Litrak and 50%-owned joint venture Projek SMART Holdings Sdn Bhd to acquire each of their toll concessions.
