ASIATIC Development Bhd rose the most in a month in Kuala Lumpur trading after it was reported that the property developer is in talks with US mall owner Simon Property Group Inc for a project in south Malaysia.
The stock climbed 6 sen, or 2 per cent, to RM3.06 at mid-day, headed for its biggest advance since November 10.
A weekly reported on December 6 that Asiatic and Simon Property plan to build a RM2 billion (US$551 million) mall on a 50-acre (20 hectares) site in Kulai in Johor.
By Bloomberg
Tuesday, December 9, 2008
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