Aturmaju active, jumps 15.5% on plan to develop intelligence project

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KUALA LUMPUR (March 5): Aturmaju Resources Bhd shares rose 15.48% in active trade this morning after the firm said it plans to jointly develop an intelligence modern lifestyle project in Kuala Selangor with Perkasa Selalu Sdn Bhd.

At 9.10am, Aturmaju rose 6.5 sen to 48.5 sen with 2.95 million shares traded.

Aturmaju said its information technology arm ARB Development Sdn Bhd has entered into a Memorandum of Understanding (MoU) with Perkasa Selalu on the proposed joint venture (JV).

Under the JV, ARB Development will provide smart home engineering system integration, procurement and commissioning of the project. The proposed contact value is RM78 million.

Aturmaju said the MoU will have a validity period of six months or until the execution of the definitive joint venture agreement, whichever comes first.