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Byline: Francis Fernandez
KUCHAI Development Bhd is trading at a four-year peak as investors bet a corporate exercise could be imminent.
The stock closed unchanged at RM1.24 a share yesterday, with 3.9 million shares changing hands. So far this year, the stock has risen by more than 76 per cent, with most of the gains chalked up over the past couple of weeks.
In contrast, the broader market was up 18 per cent in the same period.
On Tuesday, some 10.12 million Kuchai shares were traded, a volume unseen since December 28 2006 when some 13.36 million exchanged hands.
Kuchai major shareholder Kluang Rubber Co (Malaya) Bhd did not answer …