Talam settles RM241m debt, stock surges

Talam Corp, a Malaysian property developer, said it signed an agreement to repay debts of RM241.4 million owing to the Selangor state government.

Talam will sell its properties to help settle the debts, the company said in a statement today.

The shares of Talam jumped the most in more than four months after the agreement.

The stock surged 17 per cent to 13.5 sen at 2:36 pm local time in Kuala Lumpur trading, set for the steepest gain since November 2.

By Bloomberg