Eco World to launch RM1bil corporate exercise

PETALING JAYA: Eco World Development Group Bhd, the property developer controlled by former executives of S P Setia Bhd, is planning to launch a new asset acquisition and fund-raising exercise worth about RM1bil, sources said.

Trading in the shares of Eco World was suspended yesterday after the counter hit a record high. The company said the suspension was to make way for “a material announcement”.