KUALA LUMPUR (April 22): Johor-based Iskandar Waterfront City Bhd (IWCB) stole the spotlight among Bursa Malaysia's most-active and top-gaining stocks today, on speculation that tycoon Tan Sri Quek Leng Chan may emerge as Iskandar Waterfront Holdings Sdn Bhd's (IWH) shareholder.
This morning, IWCB was one of the top three actively traded stocks, with 19.25 million shares changing hands. In comparison, it has a 200-day average volume of only 944,802 shares.
The counter was also one of the top five gainers, rising as much as 11.5 sen or 13.9% to 94 sen before it pared gains to trade nine sen higher at 91.5 sen at 10.30am.
Yesterday, a local business daily citing a source said parties linked to Quek were looking to acquire a 20% stake in Credence Resources Sdn Bhd, which owns a 60% stake in IWH.
IWH holds a 47% stake in IWCB.
Credence Resources is a private company owned by another tycoon Tan Sri Lim Kang Hoo.
IWCITY (1589) - Hot Stock : IWCB up nearly 14% on speculation Quek may emerge as shareholder
http://www.theedgemarkets.com/my/article/iwh-nearly-14-speculation-quek-may-emerge-shareholder
