Ekovest up 2.21% on land acquisitions

KUALA LUMPUR (April 10): Master developer Ekovest Bhd gained 2.21% this morning on news that the company has acquired two parcels of land in Setapak last Friday for its mix commercial development project EkoQuay.

At 10.04am, Ekovest rose 3 sen to RM1.39, with 1.09 million shares traded.

The company said the plots, with a total cost of RM26.77 million, will make up a 2.75-acre land needed to develop EkoQuay, which will commence construction in 2018.

The acquisition is expected to be financed via internally generated funds and borrowings in the proportion of 30% to 70% respectively, it added. — theedgemarkets.com

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