By Ying Xian Wong
Berjaya Land shares jumped after the appointment of a Johor royal family member as chairperson of its rail arm.
Shares in the Malaysia-listed company rose as much as 22% and were recently 17% higher at 0.32 ringgit ($0.07), taking 12-month gains to 39%.
Berjaya Land said late Tuesday that rail unit Berjaya Rail has appointed Tunku Tun Aminah Sultan Ibrahim Ismail, the daughter of the Johor sultan, as chairperson.
Tunku Tun Aminah currently holds a 30% stake in Berjaya Rail, the company said in a bourse filing.
She is also on the boards of other companies, including Berjaya Corp. and REDtone Digital.
Meanwhile, Berjaya Rail is engaged in the request-for-information stage for the Kuala Lumpur-Singapore high-speed rail project, and is “committed to working closely with stakeholders to ensure the success of the high-speed rail industry,” it said.
The Kuala Lumpur-Singapore high-speed rail project was postponed in 2018 after a regime change in Malaysia due to high costs, then subsequently terminated in 2021, as the two countries were unable to reach agreement on the project.
Write to Ying Xian Wong at [email protected]
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