Friday, December 17, 2010

MTD Cap advances to fresh highs on toll approval

KUALA LUMPUR: Shares of MTD CAPITAL BHD [], Malaysia's second largest highway operators and owners, saw its shares advance to fresh highs of RM8.83 in late afternoon trade on Friday, Dec 17.

At 3.30pm, it was up 32 sen to RM8.83 with 174,900 shares done.

The FBM KLCI was up 1.26 points to 1,498.78. Turnover was 781.84 million shares valued at RM1.08 billion. There were 343 gainers, 316 losers and 296 stocks unchanged.

On Thursday, MTD Capital said it had obtained the approval from the Philippines Toll Regulatory Board to raise the toll rate on the South Luzon Expressway effective from Jan 1, 2011.

The Edge FinancialDaily had on Dec 1 reported that MTD Capital could rake in at least RM150 million in annual toll revenue if the higher toll rates were implemented in January, 2011.

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