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apple developer:Quick take: Ageson rises 7% on partnership with MBI Perak


KUALA LUMPUR: Ageson Bhd’s rose over 7% on news of its unit undertaking a RM1.24bil mixed development with Menteri Besar Inc (Perak). The counter added 7.69%, or one sen to 14 sen with over 13 million shares traded. Ageson-PA rose 16.67%, or 0.5 sen to 3.5 sen with 26 million shares done. Ageson’sB75%-owned subsidiary Ageson Holdings Sdn Bhd (AHSB) has inked a development rights agreement with MBI to develop a mixed development with an estimated gross development value of RM1.24bil on some 475 acres of land in Wilayah Sungai Kelian Baru under Daerah Batang Padang in Perak. The development will comprise a District Health Department Office, a District and Land Office, a District Council Office, a Community Development Department Tapah office, together with 365 units of shop offices, 1,038 units of terrace houses, 332 units of semi-detached houses, 191 units of detached houses, and 33 units of industrial lots. Separately, Ageson also announced that it will pay part of an outstanding sum it owed to RHB Bank Bhd. Ageson did not disclose the sum involved. RHB had filed a suit against the group over a RM33mil term loan. Ageson also updated that the company and RHB have agreed for the litigation process that was started last year to be held in “abeyance”, or temporarily put on hold.

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