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IWCity active, up 3.5% after given a lifeline by government

Surin Murugiah May 17, 2017 | Updated 6 years ago

KUALA LUMPUR (May 17): Shares in Iskandar Waterfront City Bhd (IWCity) rose in active trade this morning after Minister in the Prime Minister's Department Datuk Seri Abdul Rahman Dahlan said IWH CREC Sdn Bhd is allowed to bid for the Bandar Malaysia real estate project again as long as the offer is right for the Malaysian government.

At 9.04am, IWCity rose 3.54% o 7 sen to RM2.05 with 2.43 million shares traded.

"During his trip to Beijing, the PM (Prime Minister) has made it clear that the new consortium can include the previous consortium players. They can still participate, as long as the numbers are okay.

"The deal was never a flip flop, there were certain conditions not fulfilled by the previous consortium, so the Government terminated the deal, legally, and called for another tender, which is beneficial to the country as the value (of the land) has now appreciated a lot," Abdul Rahman told reporters here yesterday during Gamuda Bhd's Tunnelling Training Academy graduation ceremony. — theedgemarkets.com

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