Quick take: JAG attracts trading interest, jumps 20%

KUALA LUMPUR: JAG Bhd, which jumped 20%, was among the most traded stocks in early trade on Wednesday.

The total waste management company rose 20%, or one sen to six sen with over 31 million shares traded. JAG-WB jumped 50%, or 0.5 sen to 1.5 sen with 520,100 shares done.

JAG has signed a Memorandum of Understanding (MoU) with Empire Mining Sdn Bhd to jointly explore bauxite mining opportunities in Pulau Langkawi, Kedah.

It said the MoU was to set out intentions with the possible joint venture between JAG or its nominated subsidiary and Empire Mining, to extract, process, and produce bauxite there.

The parties have agreed to negotiate exclusively with each other for three months from the date of the MoU, and a further three months or more if mutually agreed in writing.

The Water, Land and Natural Resources Ministry said the restriction on bauxite mining activity will only be withdrawn once all parties adhere to standard operating procedures.

The Government is expected to hold a public hearing on the matter on April 14 as the current moratorium on bauxite mining activity ends on March 31.

Source : TheStar