KUALA LUMPUR: Berjaya Land Bhd shares soared after the appointment of Tunku Tun Aminah Sultan Ibrahim Ismail, the daughter of the Sultan of Johor, as chairperson of its rail arm.
The stock rose more than 20 per cent to a high of 33 sen, its highest in 28 months, before retreating to 30 sen at midday from its Tuesday's close of 27 sen.
BLand, which is eyeing the Kuala Lumpur-Singapore high-speed rail project, was among the most actively traded stocks, with 27.7 million shares traded at 12 noon.
The counter ended the day 9.26 per cent higher to 29.5 sen with 33.39 million shares traded.
Tunku Tun Aminah holds a 30 per cent stake in Berjaya Rail Sdn Bhd. said BLand in an exchange filing yesterday.
BLand said the 37-year-old Johor Sultan's daughter brings a wealth of experience from her leadership roles in various private companies.
This includes Berjaya Corp Bhd, Berjaya Assets Bhd, Berjaya Capital Bhd, Berjaya Hartanah Bhd, Bukit Kiara Resort Bhd and REDtone Digital Bhd.
"I look forward to working with Her Highness in realising Berjaya Rail's potential to redefine the way we travel, connect and experience the world," said BLand group chief executive officer and Berjaya Rail board member Syed Ali Shahul Hameed.
Berjaya Rail, which is led by its chief executive officer Farizul Baharom, will focus on five strategic areas, namely advancing HSR development, delivering integrated rail solutions, driving transit-oriented development/transit adjacent development, elevating user experience and harnessing synergistic partnerships.