Tuesday 6 December 2011

Hiap Teck jumps on mining licence

Hiap Teck Venture Bhd, a Malaysian steel-products manufacturer, rose to a one-month high in Kuala Lumpur trading after the Edge newspaper reported that its 55- percent owned unit Eastern Steel Sdn Bhd had won a licence to mine iron-ore in Terengganu state.

The stock climbed 3.4 percent to 91 sen at 9:17 a.m. local time, set for its highest close since Nov. 1. -- Bloomberg



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