InchKen up on land sale for RM268m

KUALA LUMPUR: Shares of InchKenneth Kajang plc inched up in active trade on Wednesday, Dec 8 after it agreed to dispose of two parcels of land for RM268.5 million.

At 9.11am, it was up 0.5 sen to 83.5 sen with 4.23 million shares done.

The FBM KLCI jumped 8.99 points to 1,510.73. Turnover was64.35 million shares valued at RM75.6 million. Gainers beat losers 173 to 41.

On Monday, InchKen announced it had agreed to sell the land in Semenyih to UEM Land Bhd for the latter’s proposed integrated township project.

Investors would also be awaiting details from InchKen about the proposed use of the funds after the disposal.(The Edge Online Malaysia,by Joseph Chin)