SHARES of KLSE second board company Autoindustries Ventures Bhd (Autoven) soared yesterday to their highest level since May 2000 amid speculation that the auto parts maker could be a takeover target of Jawala Corp Sdn Bhd, a private company controlled by low-profile Sabah palm oil trader Tan Sri Majid Khan.
Jawala, together with listed Ranhill Bhd and Crest Petroleum Bhd, had jointly submitted a letter to the government on Sept 24 expressing their interest to take part in the proposed second national oil consortium to develop marginal oil fields in Malaysia.