Quick take: Prestariang surges 19% in early tradeKUALA LUMPUR: Shares of Prestariang Bhd rallied on Thursday, amid renewed optimism over the revival of an immigration control system.
The counter jumped 19.32%, or 8.5 sen to 52.5 sen. It is currently the most active counter with 61.6 million shares traded.
It has been reported that Kumpulan Wang Persaraan Diperbadankan, or KWAP is seeking to revive a RM3.5bil (US$856milm) project by offering to lower the cost to the government.
KWAP is asking the government to bring back a project to build an immigration control system that was awarded to Prestariang.
The pension fund for civil servants holds a stake in Prestariang.
KWAP proposes cutting the cost of the project, known as SKIN, by 17% to RM2.89bil, and increasing its stake in Prestariang if the project is revived, Bloomberg reported.
Source: The Star
https://www.thestar.com.my/business/bus ... zC6piTF.99
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