KUALA LUMPUR: Two stocks linked to property tycoon Tan Sri Lim Kang Hoo were the most actively traded counters on Bursa Malaysia yesterday.

Shares in Iskandar Waterfront City Bhd (IWCity) surged as much as 17.8% to hit an intraday high of RM1.19, before paring early gains to close at RM1.10, still up nine sen or 8.91% from Tuesday’s closing. Its market capitalisation was RM920.03 million.

A total of 214.15 million shares were traded, making it the second-most actively traded stock. Year to date (YTD), the counter’s share price has appreciated 162%.

Ekovest Bhd shares rose as much as 4.8% to reach an intraday high of 88 sen. It settled at 84.5 sen, 0.5 sen or 0.6% higher than the previous day’s closing of 84 sen. Its market value stood at RM2.11 billion.

It saw 238.73 million shares changing hands, emerging as the most actively traded stock. YTD, its share price has risen 89.9%.

Lim is a common major shareholder in Ekovest and IWCity. He is the founder and executive vice-chairman of IWCity and holds a 37.72% stake in the company via Iskandar Waterfront Holdings Sdn Bhd (IWH). He is also the executive chairman of Ekovest and holds a 32.45% stake in the company.

On April 19, the government announced the revival of the 583.37-acre (236.08ha) Bandar Malaysia project, which was abruptly terminated in May 2017. IWH-CREC Sdn Bhd, a 60:40 joint venture between IWH and state-owned China Railway Engineering Corp (M) Sdn Bhd, was chosen to take up the 60% stake in Bandar Malaysia, with the government holding the remaining 40% stake.