Malton's shares up 26% in afternoon market

KUALA LUMPUR (May 16): Malton Bhd, the property development company controlled by Tan Sri Desmond Lim Siew Choon, saw its share price rise by as much as 26% to RM1.94 in afternoon trading.

By 3:50pm, the stock had pared some of the gains and was trading at RM1.78, up 24 sen or 15.58%. Its trading volume was 55.59 million shares.

It was the fifth most actively traded counter and also the fifth biggest gainer.

Malton's warrant Malton-WB was also up 20 sen or 28.99% at 89 sen, with 104.97 million units traded. It was the third most traded counter and seventh biggest gainer.

There was market talk that Malton would be partnering China's Dalian Wanda Group as the master developer of Bandar Malaysia.

However, the group has issued a statement to deny this, saying it is not in any discussion with Dalian Wanda to bid for the Bandar Malaysia job. — theedgemarkets.com

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