KYM Holdings Bhd, a Malaysian property investor, soared in Kuala Lumpur trading after agreeing to sell land to Vale SA, the world’s biggest iron ore producer.The stock leapt 55 per cent to 79 sen at 12.30pm, set for the highest close in almost two years.Vale agreed to buy land in Perak, Malaysia, for RM101.9 million (US$29 million) and also has an option to buy additional plots in the north Malaysian state for RM93.7 million, KYM said in a statement yesterday after the market closed.
Source: Bloomberg 13 June 2009
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