KUALA LUMPUR, Sept 1 — Shares of Comintel Corporation Bhd (ComCorp) were higher in the morning trading session despite news that the government is re-tendering the Klang Valley Double Tracking 2 (KVDT2) project.
Last month, the company said businessman Datuk Seri S Subramaniam Pillai, the founder and executive director of Dhaya Maju Infrastructure (Asia) Sdn Bhd (DMIA), will inject his railway infrastructure business into the company.
DMIA is a joint venture partner in the RM4.47 billion Klang Valley Double Track 2 (KVDT2) rehabilitation project.
ComCorp, a company involved in communication and system integration, defence maintenance and manufacturing, also said that it would raise RM12.83 million by placing 171.12 million shares, representing 55 per cent of its enlarged share capital, at 7.5 sen per share to Subramaniam.
As at 10.51 am today, shares of ComCorp rose 1.5 sen to 23 sen, with 1.13 million shares transacted. — Bernama
