KUALA LUMPUR (July 11): Yong Tai Bhd's share price rose further today to a 10-month high as investors reacted positively to the group's plan to jointly undertake a property development project in Ijok, near Kuala Selangor, with another company.

At 3.19pm, the stock was up 4.5 sen or 4.52% at RM1.04, its highest point since Sept 10 last year. Volume totalled 5.45 million shares.

Year to date, the counter has climbed 29 sen or 38.7%.

Early this month, Yong Tai said it has teamed up with PGCG Assets Holdings Sdn Bhd to jointly undertake a mixed development project with a gross development value of RM510 million in Puncak Alam, Ijok.

The garment-maker-turned-property developer said it has inked a memorandum of understanding with PGCG to jointly develop a 22ha piece of leasehold land and construct 1,039 properties.

PGCG is a 90%-owned indirect subsidiary of Prime Global Capital Group Inc, a public-listed company in the US. It is the registered owner of the land. — theedgemarkets.com

Want to know the price trends of a development? Click here.

SHARE
SPONSORED CONTENT
Beyond the front door: Setia crafts communities for the Malaysian way of life

For many families today, the question is no longer simply about owning a home. It is increasingly about where that home sits within a larger community.

read more
RELATED POSTS
  1. Yong Tai seeks fourth extension for RM160 mil Courtyard by Marriott Melaka sale circular
  2. Y&G triggers another extension for 548-acre Sepang-Kuala Selangor land buy
  3. Yong Tai to issue RM1.5 mil RCPS under ongoing fund-raising exercise