KUALA LUMPUR (Jan 13): BINA PURI HOLDINGS BHD [] shares extended their gains in early trade on Friday after the company said it was negotiating the financial and legal aspects of a privatisation concession agreement with the National Highway Authority in Islamabad, Pakistan.
At 9.05am, Bina Puri rose 2.5 sen to 97 sen with 102,000 shares traded.
In confirming The Edge Financial Daily report on Thursday entitled “Bina Puri to bag Pakistan highway deal”, the company said that it had received the letter of intent dated Nov 11, 2011 from the highway authority.
It said the letter of intent was for the conversion of existing four-lane Karachi-Hyderabad super highway into a six-lane motorway (M-9) on build, operate and transfer (BOT) basis.
“We are currently negotiating the financial and legal aspects of the concession agreement with them. We will make further announcement on the progress of the concession,” it said.
At 9.05am, Bina Puri rose 2.5 sen to 97 sen with 102,000 shares traded.
In confirming The Edge Financial Daily report on Thursday entitled “Bina Puri to bag Pakistan highway deal”, the company said that it had received the letter of intent dated Nov 11, 2011 from the highway authority.
It said the letter of intent was for the conversion of existing four-lane Karachi-Hyderabad super highway into a six-lane motorway (M-9) on build, operate and transfer (BOT) basis.
“We are currently negotiating the financial and legal aspects of the concession agreement with them. We will make further announcement on the progress of the concession,” it said.
