May 17, Kuala Lumpur – There was confusion when it came to the play of stocks tied to Bandar Malaysia in yesterday afternoon’s trading session. And the biggest losers would have been investors chasing up property counters associated with Bandar Malaysia, especially Iskandar Waterfront City (IWC) Berhad. It came as news filtered down that China Railway Engineering Corp (CREC) was teaming up with Hong Kong’s rail operator – MTR Corp – to bid for the multi-billion-ringgit high-speed rail (HSR) project between Kuala Lumpur and Singapore. A day after it hit limit up, shares of IWC, which hit a day’s high of RM2.45, came crashing down at about 3:20pm. The selling was furious, and the stock ended the day 15 sen lower at RM1.98. It was also the most actively traded counter of the day, with 272.02 million shares changing hands. The IWC roller-coaster ride attracted a query from Bursa Malaysia. The company, in its reply, said it was unaware of any new development that had contributed to the stock’s unusual market activity.
Read more at: http://www.thestar.com.my/business/business-news/2017/05/17/bandar-malaysia-a-guessing-game/#2wJTPFrtLLyQAvHo.99
