Thursday 28 Mar 2024
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KUALA LUMPUR (Nov 12): Minetech Resources Bhd jumped as much as 10% to become the most actively-traded stock on the exchange.

Shares of quarry operator Mintech rose, after it announced its planned diversification into property development. Minetech climbed as much as 1.5 sen to 16.5 sen, before reducing gains.
 
At 3.02pm, its share price increased one sen to 16 sen, with some 85 million shares done. For comparison, the FBM KLCI fell 4.36 points or 0.2%.

Minetech announced yesterday that it had entered into a memorandum of agreement to acquire Perak-based property developer Glamour Heights Sdn Bhd (GHSB) for RM27.45 million.

Mintech plans to buy GHSB from Mooi Weng Wah and Low Choon Len. The acquisition will be fully financed via the issuance of new Minetech shares.

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