Search Articles

Find tips, tools and how-to guides on every aspect of property

Iskandar Waterfront City unaware of reason for share price swings


Iskandar Waterfront City unaware of reason for share price swings

PETALING JAYA, May 18: Iskandar Waterfront City Bhd (IWCity), which has been in the limelight lately over the Bandar Malaysia project, said it was unaware of the reason for the unusual movements in its share price, in response to an unusual market activity (UMA) query from Bursa Malaysia yesterday.

The query came after the company’s shares hit limit-up on Monday on renewed hopes of its participation in the Bandar Malaysia project following a 46.8% plunge of its share price last week on news that the deal between the consortium of Iskandar Waterfront Holdings and China Railway Engineering Corp (IWH CREC) and TRX City Sdn Bhd had been terminated.

IWCity shares rose as much as 32 sen or 15% before ending 15 sen or 7% lower at RM1.98 yesterday, with some 272.02 million shares changing hands.

Media reports have quoted government officials as stating that IWH CREC may still participate in the project despite the earlier termination. – The Sun

Disclaimer: The information is provided for general information only. Malaysia Sdn Bhd makes no representations or warranties in relation to the information, including but not limited to any representation or warranty as to the fitness for any particular purpose of the information to the fullest extent permitted by law. While every effort has been made to ensure that the information provided in this article is accurate, reliable, and complete as of the time of writing, the information provided in this article should not be relied upon to make any financial, investment, real estate or legal decisions. Additionally, the information should not substitute advice from a trained professional who can take into account your personal facts and circumstances, and we accept no liability if you use the information to form decisions.

More Articles