KUALA LUMPUR : Bursa Malaysia has queried Eco World Development Group Bhd on the sharp rise of its share price yesterday. Shares of the property company had surged to its highest level of RM4.85 at noon. The shares, however, ended the day three sen lower at RM4.36 from last Friday's record close of RM4.39 . Business Times reported yesterday that Eco World seems to have done the impossible, with its stock rising by as much as 14 times over a 12-month period, with hardly any research coverage. Eco World had peaked at RM4.44 last Friday. A year ago, Eco World (then known as Focal Aims Bhd ) was the ugly duckling among the Johor -based property developers, trading at a low of 30.5 sen a share. Then, Liew Tian Xiong offered to buy 164.77 million shares, or 65.05 per cent, of the company for RM230.68 million cash. The offer transformed the stock, expecially since Liew's partners in the venture was Eco World Development Holdings Sdn Bhd , whose shareholders include Tan Sri Abdul Rashid Abdul Manaf and Datuk Eddie Leong Kok Wah . Abdul Rashid and Eddie Leong are both former directors of SP Setia , where Liew's father Tan Sri Liew Kee Sin is its current president as well as chief executive officer.
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