KUALA LUMPUR (July 11): Yong Tai Bhd's share price rose further today to a 10-month high as investors reacted positively to the group's plan to jointly undertake a property development project in Ijok, near Kuala Selangor, with another company.

At 3.19pm, the stock was up 4.5 sen or 4.52% at RM1.04, its highest point since Sept 10 last year. Volume totalled 5.45 million shares.

Year to date, the counter has climbed 29 sen or 38.7%.

Early this month, Yong Tai said it has teamed up with PGCG Assets Holdings Sdn Bhd to jointly undertake a mixed development project with a gross development value of RM510 million in Puncak Alam, Ijok.

The garment-maker-turned-property developer said it has inked a memorandum of understanding with PGCG to jointly develop a 22ha piece of leasehold land and construct 1,039 properties.

PGCG is a 90%-owned indirect subsidiary of Prime Global Capital Group Inc, a public-listed company in the US. It is the registered owner of the land. — theedgemarkets.com

Want to know the price trends of a development? Click here.

SHARE
SPONSORED CONTENT
Maris and The Lume spell the Andaman standard in luxury high-rise coastal living in Penang

Whether it’s the marina-edge vibrancy of Maris, where panoramic sea views meet urban ease; or the resort-style tranquillity of The Lume, where space, privacy, and timeless design reign, these developments reflect the highest standards of craftsmanship and liveability.

read more
RELATED POSTS
  1. Alpha Galaxy launches last phase of Galaxy Avenue at Puncak Alam
  2. LBS, KLM Land launch Phase 3 of Alam Perdana Industrial Park in Puncak Alam
  3. Yong Tai buys Sabah property developer for RM15m