Wednesday, October 27, 2010

MTD surges on resuming trade

KUALA LUMPUR: MTD CAPITAL BHD [] shares surged on resuming trade on Wednesday, Oct 27 after the Philippines Supreme Court last week declared as valid and constitutional the supplemental toll operation agreement for MTD's South Luzon Toll Expressway (SLEx) project.

However, the court declared void and unconstitutional clauses that said the Toll Regulatory Board had to compensate MTD Capital's South Luzon Tollway Corp/the Philippine National Manila Toll Expressway Systems Inc for its loss of revenue resulting from the non-implementation of the approved authorised toll price and toll rate adjustments.

MTD jumped RM1.15 to RM7.50 at 9.15am with 6,500 shares done.

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