Damansara Realty share price soars 65%

KUALA LUMPUR: Damansara Realty Bhd jumped 65.22% in early trade Friday, its highest since October 2018.

The counter, one of the top gainers on Bursa Malaysia, rose 15 sen to 38 sen with 11 million shares traded.

It is not known what contributed for the sharp rise in its share price as the company has not made any corporate announcement in recent days apart from an update on its litigation.

Last November, two of Damansara Realty directors stepped down from the company's board effective immediately.

It said Datuk Daing A. Malek Daing A. Rahaman was stepping down as executive vice-chairman after expressing his intention to retire from his post at a recent board meeting, saying he is planning to withdraw gradually from all external commitments.

Datuk Md Othman Yusof is resigning as independent non-executive director of the company, citing personal commitments which require his full attention. Md Othman was appointed to the board on Dec 15, 2015.