IWCity sees sudden surge in interest

KUALA LUMPUR (May 29): Shares in Iskandar Waterfront City Bhd (IWCity) saw a surge in investor interest this afternoon, climbing as high as four sen or 2.35% to RM1.74, before easing back as investors took profit.

The counter surfaced as the eighth most actively traded stock on the bourse at 4.36pm, with the price down 2 sen or 1.18% at RM1.68.

IWCity recently grabbed headlines when its holding company, Iskandar Waterfront Holdings Sdn Bhd, saw the termination of its joint venture with China Railway Engineering Corp (M) Sdn Bhd for a 60% stake in Bandar Malaysia Sdn Bhd.

On Thursday, IWCity chairman Datuk Ayub Mion said the group sees positive prospects ahead despite a challenging economic backdrop. — theedgemarkets.com

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