KUALA LUMPUR: Ekovest Bhd's share price rose as much as 3.37 per cent to 46 sen as at 11am following its announcement to sell four parcels of land on Jalan Pahang, Kuala Lumpur in a related party transaction (RPT).
At 10.30am, its shares were up half a sen or 1.12 per cent to 45 sen from Monday's close of 44.5 sen.
In a filing to Bursa Malaysia Securities on Monday, the company said it was selling the lands along Jalan Pahang, totalling 2,286 sq m to Airman Sdn Bhd for RM9.82 million.
Airman is a subsidiary of Lim Seong Hai Holdings Sdn Bhd (LSHHSB).
The sale was done under a RPT as Ekovest's non-independent and non-executive director Tan Seri Lim Keng Cheng is a major shareholder and is also a director of LSHHSB with a 25 per cent stake in the company. For its third quarter ended Mar 31, 2024 (Q3FY24), the company narrowed its net loss to RM11.11 million from a loss of RM15.86 million in the same period last year.
Its revenue rose to RM306.46 million in the quarter under review compared to RM220.18 million in Q3FY23.