Com­pany to sus­pend trad­ing on Bursa for three days

New Straits Times - - Business -

ISKAN­DAR Wa­ter­front City Bhd is ex­pected to make a ma­te­rial an­nounce­ment this week af­ter it re­quested for a three-day trad­ing sus­pen­sion from to­day un­til Wed­nes­day.

The counter saw ac­tive trad­ing on Fri­day, prompt­ing an un­usual mar­ket ac­tiv­ity query from Bursa Malaysia.

Its shares peaked at RM1.76 on Fri­day af­ter­noon and ended 19.71 per cent higher at RM1.64 from Thurs­day’s close of RM1.37.

Iskan­dar Wa­ter­front City said Bursa Malaysia had ap­proved the three-day trad­ing sus­pen­sion.

Its ma­jor share­holder is Iskan­dar Wa­ter­front Hold­ings (IWH), which owns a 42.87 per cent stake. IWH, the master de­vel­oper of the Flag­ship “A” Zone of Iskan­dar Malaysia in Johor, is plan­ning to list on the Main Mar­ket this year.

An artist’s im­pres­sion of the

Te­brau Bay de­vel­op­ment in Johor, one of Iskan­dar Wa­ter­front City Bhd’s projects.

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