Published: Friday March 22, 2013 MYT 10:45:00 AM
Tebrau Teguh advances, mulls land development
By Joseph Chin
KUALA LUMPUR: Shares of Tebrau Teguh extended their gains on Friday on the Iskandar Malaysia theme and as it mulls developing land belonging to a subsidiary.
At 10.26am, it was up three sen to RM1.49. There were 18.19 million shares done.
The FBM KLCI rose 1.30 points to 1,632.05. Turnover was 276.80 million shares valued at RM290.18mil. Losers led gainers 200 to 158 while 231 counters were unchanged.
On Thursday, Tebrau Teguh was queried by Bursa Malaysia Securities over the recent spike in its share price.
In its response, the company said it was discussing with various interested parties to form joint venture or JVs to develop certain parcels of land belonging to a subsidiary company.
Tebrau Teguh said the discussion "is still in a state of flux and no specific terms and conditions have been arrived yet".
It added there was no decision pending valuation and feasibility studies.