Bursa grants six-month time extension to IWCity to submit regularisation plan

Bursa has the right to proceed to suspend the trading of the listed securities of IWCity and to de-list the company if IWCity fails to submit the regularisation plan before Sept 24, fails to obtain approval from any of the regulatory authorities necessary for the implementation of its regularisation plan or fails to implement its regularisation plan within the time frame or extended time frame stipulated by any of the regulatory authorities.

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Lim Kang Hoo-linked shares slip as Bandar Malaysia deal lapses

KUALA LUMPUR (July 15): Share prices of Iskandar Waterfront City Bhd (IWCity) and Ekovest Bhd, both of which are linked to businessman Tan Sri Lim Kang Hoo (pictured), fell in Bursa Malaysia morning trade today after IWCity’s major shareholder Iskandar Waterfront Holdings Sdn Bhd (IWH) said yesterday the share sale agreement for the planned acquisition of a 60% stake in Bandar Malaysia Sdn Bhd by IWH’s joint venture (JV) had lapsed on May 6, 2021.

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