Ekovest, IWCity among most active counters after news on mega project revival

During the Bursa Malaysia morning session, Ekovest and IWCity were among the mostly actively traded counters. — Picture by Hari Anggara
During the Bursa Malaysia morning session, Ekovest and IWCity were among the mostly actively traded counters. — Picture by Hari Anggara

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KUALA LUMPUR, Sept 7 — Ekovest and IWCity were among the mostly actively traded counters on Bursa Malaysia during the morning session following news on the likelihood of the revival of some mega projects to buffer economic shock post Covid-19 was reported.

At 10.13am, Ekovest surged 5.5 sen, or 11.34 per cent, to 54 sen with 96.51 million shares traded, while IWCity rose four sen, or 6.84 per cent, to 62.5 sen with 51.66 million shares changing hands.

Local English daily The Star quoted an analyst as saying that the medium-term economic recovery plan would most likely be tabled in Parliament in October, and there could be news flow on the revival of some mega projects which are vital for job-creation and to buffer the economic shock

“While rollouts of new public infrastructure projects in a major way over the short-term are unlikely, given the government's fiscal constraint, there could be news flow on the Mass Rapid Transit Line 3 (MRT3) in the upcoming 2021 Budget as one of the 'anchor shovel-ready infrastructure projects' to revive the economy,” it quoted the analyst as saying.

Meanwhile, the Cabinet approved the Kuala Lumpur-Singapore High-Speed Rail (HSR) project last month but both Malaysia and Singapore have agreed to extend the deferment of the project to year-end. — Bernama

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