Berjaya Corp +0.8%; Initial Pact With Posco E&C

Berjaya Corp. Bhd (3395.KU) is up 0.8% at MYR1.20; this after the company says it signed an initial pact with South Korea's Posco Engineering & Construction Co. Ltd. (025100.SE) for collaboration on projects relating to engineering, construction, and development. "Under this MOU, both companies will work closely...in exploring and identifying possible opportunities for joint collaboration in traditional sectors like property development and infrastructure construction, as well as new business areas such as renewable energy and petrochemical plants," the Malaysian property, insurance and gaming group says in an exchange filing. A local dealer says "though no clear details are given, but it could help Berjaya Corp venture into newer markets and expand its sales base."