Gabungan AQRS up on positive prospects, bonus issue

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KUALA LUMPUR (Sept 6): Gabungan AQRS Bhd shares rose as much as 8 sen or 7% to RM1.18 so far today, after shareholders approved yesterday, the builder and property developer's proposed bonus issue of 123.65 million new warrants. The bonus issue will be undertaken on the basis of one warrant for every four existing shares held.

At 10:35am, Gabungan AQRS shares were traded at RM1.15, with 1.72 million shares transacted. 

Yesterday, group chief executive officer Datuk Azizan Jaafar said Gabungan AQRS' earnings and fundamentals will get better from FY19 to 2021.

"Currently, our (construction) order book stands at RM2.4 billion and this will carry us for the next three years. So, that is (a) very positive thing that we have," Azizan told reporters after the group's extraordinary general meeting here.