Wednesday, 18 April 2012

Wijaya gains 3% on Indonesian venture

KUALA LUMPUR (April 18) : WIJAYA BARU GLOBAL BHD [] shares climbed as much as 3% on Wednesday morning after the timber entity said it plans to undertake logging operations and oil palm cultivation in Indonesia.

The stock added two sen to 74 sen before settling lower at 73 sen at lunch break.

Wijaya told the bourse on Tuesday that it is talking to a few interested parties on the feasibility of undertaking logging operations and oil palm cultivation in Indonesia’a Papua province.

“However, all the negotiations are still in the very preliminary stage and nothing has been concluded yet,” Wijaya said.

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