Monday, 16 April 2012

Wijaya Baru climbs 6% on proposed timber complex

KUALA LUMPUR (April 16) : WIJAYA BARU GLOBAL BHD [] shares rose as much as 6% on news that the firm plans to set up an integrated timber complex in Indonesia.

The stock rose four sen to an intraday high of 75.5 sen on Monday before being transacted lower at 74 sen at 2.32pm.

Wijaya Baru told Bursa Malaysia last Friday that it is in the “long term interest of the company” to establish an integrated timber complex in Indonesia. The firm, however, said it has yet to sign a joint venture agreement to set up the complex.

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