Quick take: Lafarge surges to 13 month high of RM4.25

YTL Corp subsidiary YTL Cement

KUALA LUMPUR: Shares of cement maker  Lafarge Malaysia Bhd surged to a high of RM4.25, the highest since May last year despite AmInvestment Bank's advice that minority shareholders reject YTL Group's takeover offer of RM3.75 a share.

At 11.21am, Lafarge was up 47 sen to RM4.25 with 586,900 shares done.

The FBM KLCI fell 9.05 points or 0.55% to 1,641.69. Turnover was 860.71 million shares valued at RM603.17mil. There were 240 gainers, 345 losers and 315 counters unchanged.

However, what has attracted interest is that more than 1,000 firms are vying for a share of the 40% civil works portion of the East Coast Rail Link (ECRL).