Mudajaya’s Latest Acquisition Pushes Share Price Up

Mudajaya Group Bhd’s acquisition of a 70 per cent stake in PT Harmoni Energy Indonesia (PT HEI) for RM18.5 million helped drive its share price upward on Bursa Malaysia Tuesday.

As at 11.46 am, the counter rose two sen to RM2.66 after opening flat at RM2.6,4 with 422,500 shares changing hands.

PT HEI has entered into power purchase agreement with PT PLN for the development of 2×7 megawatt coal-fired power plant on a build-operate-transfer for 25 years in Sulawesi, Indonesia.

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Posted May 9, 2014 by repit in News

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