KUALA LUMPUR: Bumi Armada Bhd's share price, which had risen in active trade in recent days, saw it hitting a speed bump after Indian tycoon Shapoorji Pallonji Mistry resigned from the board. At 11.20am, it was down two sen to 77 sen. Since Feb 17, the share price had risen from 67 sen to a high of 79 sen on Wednesday. Mistry is the chairman of the Shapoorji Pallonji group, a conglomerate involved in construction, real estate, infrastructure and renewable energy. Bumi Armada's share price rose in recent days following fresh corporate news and the rebound in crude oil prices.

Source: The Star February 23, 2017 03:38 UTC