KUALA LUMPUR: MTD CAPITAL BHD []'s shares rose on Friday, Oct 22 after the Philippines Supreme Court upheld the legality of the contracts entered into the Philippines government with private investors on the CONSTRUCTION [], maintenance and operation of the South Luzon Expressway (SLEx) project.
The Court also lifted the temporary restraining order (TRO) it issued last Aug 13 against the implementation of the 250% increase in toll rates at the SLEx based in the Supplemental Toll Operation Agreement (STOA) signed by the government and its joint venture partners in 2006.
However, the toll hike will not materialise any time soon as the Court ordered the Toll Regulatory Board (TRB) to review the new rates subject to the TRB notice of toll rates published last June 6 for the SLEx projects.
In a filing to Bursa Malaysia Friday morning, MTD said it would release further announcements upon receiving official judgement from the Court.
As at 10.53am Friday, a trading halt was placed on MTD shares until 2.30pm. MTD was last traded up 56 sen to RM6.35 with 98,600 shares traded.
The Court also lifted the temporary restraining order (TRO) it issued last Aug 13 against the implementation of the 250% increase in toll rates at the SLEx based in the Supplemental Toll Operation Agreement (STOA) signed by the government and its joint venture partners in 2006.
However, the toll hike will not materialise any time soon as the Court ordered the Toll Regulatory Board (TRB) to review the new rates subject to the TRB notice of toll rates published last June 6 for the SLEx projects.
In a filing to Bursa Malaysia Friday morning, MTD said it would release further announcements upon receiving official judgement from the Court.
As at 10.53am Friday, a trading halt was placed on MTD shares until 2.30pm. MTD was last traded up 56 sen to RM6.35 with 98,600 shares traded.
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