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Tuesday, December 9, 2008

Asiatic Dev up on talk of mall project

ASIATIC Development Bhd rose the most in a month in Kuala Lumpur trading after it was reported that the property developer is in talks with US mall owner Simon Property Group Inc for a project in south Malaysia.

The stock climbed 6 sen, or 2 per cent, to RM3.06 at mid-day, headed for its biggest advance since November 10.

A weekly reported on December 6 that Asiatic and Simon Property plan to build a RM2 billion (US$551 million) mall on a 50-acre (20 hectares) site in Kulai in Johor.

By Bloomberg

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