MARKET TALK: Ireka +19% On Unit Dividend Payment Hopes

23rd Jul 2010 02:38

0138 GMT [Dow Jones] Ireka (8834.KU) +19% at 89 sen after associate Aseana Properties Ltd (ASPL.LN) sold 1 Mont Kiara property project to ARA Asia Dragon for MYR333 million; stock rose to as high as 92 sen, highest since September 2008. Dealers say Ireka's rising on speculation Aseana may declare special dividends; this after Aseana announced in London stock exchange filing that it's considering returning proceeds from sale to shareholders; dealers say as Ireka owns 23% of Aseana, company's portion of total proceeds would be about MYR76 million, nearly double company's cash of MYR41 million as at end-March. ([email protected]) Contact us in Singapore. 65 64154 140; [email protected] (END) Dow Jones Newswires July 22, 2010 21:38 ET (01:38 GMT)