Tiger Synergy up on RM1b project LOI

KUALA LUMPUR (Dec 15): Tiger Synergy Bhd shares rose as much as one sen or 22% to 5.5 sen after the company said it received the letter of intent (LOI) for a proposed estimated RM1 billion property project in Negeri Sembilan.

At 9:30am, Tiger Synergy shares were traded at five sen with some 52 million units transacted. Tiger Synergy was Bursa Malaysia's most-active stock.

Tiger Synergy's share trade resumed today following a suspension yesterday in conjunction with the project LOI announcement.

Yesterday, Tiger Synergy said its wholly-owned subsidiary Tiger Synergy Housing Development Sdn Bhd received the LOI from Elite Community Sdn Bhd for the development of 5,000 units of affordable apartments.

The project is located within an approximately 49ha (123 acre) vacant leasehold land in Setul, Negeri Sembilan, according to the company. "The estimated contract sum of the project is RM1 billion," Tiger Synergy said. — theedgemarkets.com

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