Capital World shares slip on Catalist debut

An artist's impression of Capital 21, Malaysia’s first “multi-capital” concept mall in the up-and-coming Iskandar region of Johor Baru, is set to  open in 2018.
An artist's impression of Capital 21, Malaysia’s first “multi-capital” concept mall in the up-and-coming Iskandar region of Johor Baru, is set to open in 2018.PHOTO: HATTEN GROUP

SINGAPORE - Malaysian property developer Capital World debuted on the Singapore Exchange's Catalist board on Friday (May 5), with its shares opening at S$0.198.

Its shares had slipped about 7 per cent to S$0.184 as at 10.20am.

The company, which is building an integrated development set to include Johor Baru's largest shopping mall Capital 21, was listed by way of a S$300 million reverse takeover of marble producer Terratech Group.

It has two other projects in the works - an integrated development project comprising a retail mall, office suites, hotel and residential apartments in Johor; and a wellness hub in Perak.