Friday 29 Mar 2024
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KUALA LUMPUR (Dec 28): Malton Bhd shares rose 13.41% in active trade this morning after its joint venture (JV) with Hong Kong-listed Nan Hai Corp Ltd has been selected to enter into the next phase of bidding to build a superstructure above the airport express train station located near the Taipei main train station in Taiwan.

At 9.06am, Malton rose 5.5 sen to 46.5 sen with 1.51 million shares traded.

Malton said the Department of Rapid Transit Systems Taipei City Government had today announced that the bid submitted by the Nan Hai-Malton JV has been selected as the best applicant for the project.

Nan Hai holds an 80% equity interest in the JV, while Malton holds the remaining 20% stake.

The Nan Hai-Malton JV will now commence negotiations on the terms of an investment agreement with Taipei City authorities, which is expected to be sealed in March next year.

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