KUALA LUMPUR (June 21): Ekovest Bhd had today received the approval-in-principle for the planned "Kuala Lumpur River City" development from the Malaysian Government.

Kuala Lumpur River City is a planned real estate project along the Gombak River here. In a statement to Bursa Malaysia today, Ekovest said it obtained the approval via wholly-owned subsidiary Ekovest KL Bund Sdn Bhd.

"Further details will be made upon finalisation of the privatisation terms and conditions for the proposed project," Ekovest said.

At 12:30pm today, Ekovest shares settled unchanged at RM1.17 for a market value of RM2.5 billion. The stock saw 1.74 million shares traded. — theedgemarkets.com

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