JAKS edges higher on agreeing to complete Tower A

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KUALA LUMPUR (March 8): JAKS Resources Bhd gained 0.65% this morning after it agreed to complete Tower A of the Pacific Star project in Petaling Jaya by June 30 as demanded by Star Media Group Bhd.

At 9.20am, JAKS added 1 sen to RM1.56 with 179,800 shares done.

JAKS said it wrote to Star yesterday saying it "shall endeavour" to complete the building by that date as sought by Star in a notice of demand dated Feb 28.

Tower A is one of two office towers in the Pacific Star project, which also features three residential blocks and related developments with a gross development value of RM1.1 billion.