KUALA LUMPUR, May 19 -- Shares of Ekovest Bhd and Iskandar Waterfront City Bhd (IWCity) were among the most actively traded counters on Bursa Malaysia in the morning session today, albeit falling into the negative territory.
Trading interests in the construction stocks were spurred by news that the construction of the East Coast Rail Link (ECRL) project’s Railway Scheme for Section A, comprising the 210.4-kilometre railway realignment from Kota Bharu, Kelantan to Dungun, Terengganu, would commence soon after getting the final approval from the federal government.
At 10.16am, Ekovest fell to 57.5 sen with 131.94 million shares changing hands, after opening at 65 sen from 61 sen at Monday’s close.
Meanwhile, shares of IWCity declined to 64.5 sen with 39.90 million shares transacted, after opening at 72.5 sen compared with 68.5 sen at yesterday’s close.
Malaysia Rail Link Sdn Bhd (MRL), the project and asset owner of the ECRL, said in a statement yesterday that it had received a letter from the Land Public Transport Agency which stated that the proposed realignment to the ECRL Railway Scheme for Section A was approved by Transport Minister Datuk Seri Dr Wee Ka Siong.
Among other things, the approval was for the final alignment route, location of passenger/freight stations, and the number of land lots to be acquired for the Kota Bharu-Dungun stretch, it said.
Malaysia National News Agency
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