KUALA LUMPUR (Jan 12): Lay Hong Bhd ( Valuation: 0.80, Fundamental: 0.75) rose as much as 45 sen or 7%
after the poultry farmer proposed a joint venture (JV) with Japan -listed NH Foods Ltd (NHF).
At Bursa Malaysia, shares of Lay Hong rose to their highest so far today at RM7.20. At 10:51am, the third-largest gainer changed hands at RM7.11 with 237,300 shares done.
At RM7.11, Lay Hong has a market capitalisation of RM373.28 million.
Trading of Lay Hong shares resumed today, after being suspended since 2:48pm last Friday pending the announcement.
Yesterday, Lay Hong said it signed a memorandum of understanding with NHF to record both companies' intention to established the JV.
Via the JV, Lay Hong said NHF would be responsible in research and development as well as sales and exports of processed food.
Lay Hong will be responsible for matters relating to the operations of the JV Co in Malaysia, according to the firm.
LAYHONG (9385) - Hot Stock - Lay Hong up 45 sen on proposed JV
http://www.theedgemarkets.com/my/article/lay-hong-45-sen-proposed-jv
