Lityan shares lifted by speculation on new GLC status

PETALING JAYA: Shares of Lityan Holdings Bhd posted sharp gains for a second straight day, lifted by heavy speculation that the revamped firm’s new status as a government-linked company (GLC) would put it in a better position, at least financially, to secure lucrative public contracts.

The stock yesterday hit a high of RM2.88 but closed at RM2.70 – up 55% from Friday’s closing of RM1.74. The counter was relisted on Oct 30 at a reference price of RM1 after the completion of its restructuring exercise.