IWCity active, jumps 7.14% on renewed hopes for Bandar Malaysia deal

KUALA LUMPUR (July 19): Shares in Iskandar Waterfront City Bhd (IWCity) were actively traded this morning and rose about 7.14%, following renewed rumours that it may be back in talks for the aborted Bandar Malaysia development deal.

At 10.35am, IWCity was the most actively traded stock on Bursa Malaysia, having risen 11 sen to RM1.65 with 51.67 million shares traded.

In a report by Bloomberg yesterday, it said investors were buying in on speculation that the company may be once again involved in the project, quoting chief investment officer at Phillip Capital Management Sdn Bhd, Ang Kok Heng.

Year to date, the stock has gained 104.97%. — theedgemarkets.com

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