Scomi Group shares most actively traded after settlement with Prasarana

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KUALA LUMPUR (April 5): Scomi Group Bhd is the most actively traded counter in the early trading session today following its settlement with Prasarana Malaysia Bhd yesterday.

At 11:10am, the stock gained 5 sen or 76.9% to 11.5 sen, with 149.72 million shares done.

The current market price values Scomi at RM125.8 million.

Yesterday, Scomi ended its dispute with Prasarana Malaysia on the Kuala Lumpur Fleet Monorail Expansion (KLFME) project by entering into a RM303 million settlement agreement.

Under the agreement, Scomi's unit Scomi Transit Project Sdn Bhd (STP) will repair five sets of four-car trains that have stopped operating since January last year and Prasarana will acquire seven new four-car train set for the Rapid KL Monorail route.