Vivocom active, jumps 7.14% on teaming up with CREC Shanghai

KUALA LUMPUR (Mar 27): Vivocom Intl Holdings Bhd jumped 7.14% in active trade this morning after it teamed up with Shanghai Civil Engineering Group Co Ltd (CREC Shanghai) to explore opportunities in property development, mixed development, infrastructure, water treatment plant and other development projects.

At 9.15am, Vivocom rose 0.5 sen to 7.5 sen with 3.22 million shares done.  

Vivocom said its subsidiary Vivocom Enterprise Sdn Bhd (VESB) has entered into a Heads of Agreement (HoA) with CREC Shanghai for the purpose.

Vivocom said VESB will act as CREC Shanghai’s sole and exclusive project management consultant for all projects within Malaysia. Once a project is determined, VESB will finance the cost and outlay by way of the internal funds and/or bank borrowings. — theedgemarkets.com

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