KUALA LUMPUR (Jan 9): Share of KUMPULAN PERANGSANG SELANGOR [] Bhd (KPS) and its subsidiary KUMPULAN HARTANAH SELANGOR BHD [] (KHSB) rose in active trade on expectations of a corporate exercise which could involve a privatisation.
At 11.37am, KPS was up 10 sen to RM1.15. There were 8.30 million shares done at prices ranging from RM1.06 to RM1.23.
KHSB added 10 sen also to 46.5 sen. There were 61.34 million shares transacted.
The FBM KLCI rose 2.51 points to 1,516.64. Turnover was 727.12 million shares done valued at RM521.91 million. There were 337 gainers, 210 losers and 281 stocks unchanged.
The Edge weekly reported KPS was looking to restructure the group with a possible eye on privatising KHSB. Both companies are Selangor government linked and the state is said to be looking to add value to the shareholders. KPS owns 56.57% in KHSB, whose core activity is property development and mining.
At 11.37am, KPS was up 10 sen to RM1.15. There were 8.30 million shares done at prices ranging from RM1.06 to RM1.23.
KHSB added 10 sen also to 46.5 sen. There were 61.34 million shares transacted.
The FBM KLCI rose 2.51 points to 1,516.64. Turnover was 727.12 million shares done valued at RM521.91 million. There were 337 gainers, 210 losers and 281 stocks unchanged.
The Edge weekly reported KPS was looking to restructure the group with a possible eye on privatising KHSB. Both companies are Selangor government linked and the state is said to be looking to add value to the shareholders. KPS owns 56.57% in KHSB, whose core activity is property development and mining.
