Kuchai shares rise in anticipation of Great Eastern listing

KUALA LUMPUR: Shares of Kuchai Development Bhd surged almost 18% in early trade on news that the company is poised to be a major beneficiary from the impending listing of Great Eastern’s insurance arm in Malaysia.

The counter jumped 31 sen, or 17.61% to RM2.08, its all time high. It is currently the second top gainer on Bursa Malaysia with over 1.88 million shares traded.