IWC shares suspended till today

KUALA LUMPUR: Iskandar Waterfront City Bhd (IWC) shares were suspended with effect from 9am yesterday until 5pm today at the company’s request pending an announcement. IWC told Bursa Malaysia yesterday that it had received a letter from Iskandar Waterfront Holdings Sdn Bhd (IWH), a major shareholder of IWC, informing its intention to undertake a restructuring exercise. On Wednesday, it was reported that IWH and China Railway Engineering Corp were no longer the controlling shareholder and master developer of Bandar Malaysia as the development agreement with the consortium has lapsed. IWC shares were last traded at RM3.08 per share.