MRCB most active amid HSR project news

TheStar Fri, Jan 26, 2024 10:35am - 4 months View Original


KUALA LUMPUR: Malaysian Resources Corporation Bhd (MRCB) share price was higher this morning, rising 8.62 per cent, following the news over the property developer’s participation in the Kuala Lumpur-Singapore high-speed rail (HSR) project.

At 9.47 am, MRCB rose five sen to 63 sen with 83.66 million shares changing hands. It was the most actively traded stock.

It was reported that Berjaya Rail Sdn Bhd (BRail), 70-per-cent-owned by Berjaya Land Bhd has partnered MRCB, IJM Construction Sdn Bhd, and Keretapi Tanah Melayu Bhd (KTMB) to bid for the HSR project.

RHB Investment Bank Bhd, in a note, said it believed such an arrangement for a consortium is apt for the concept proposal under the project’s request for information (RFI) exercise.

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