KUALA LUMPUR (May 28): Shares in CCK Consolidated Holdings Bhd (KL:CCK) climbed to a new all-time high on Tuesday, after private equity firm Creador proposed to invest RM170.3 million in the poultry company's Indonesian unit. 

CCK rose as much as 10% or 15 sen to RM1.65. The stock was trading at RM1.59, valuing the company at over RM1 billion as at 9.20am. The counter was also highly active, with trading volume of more than two million shares, double the 200-day moving average. 

On Monday, CCK said it had signed a binding term sheet with Astrantia Sdn Bhd, a special purpose vehicle company of a fund advised by Creador, for Astrantia to acquire a 40% stake in CCK's PT Adilmart in Indonesia, which produces frozen food.

The Muslim tourist market is projected to contribute at least 230 million in global international tourist arrivals with a spending of US$225 billion by 2028. This forecast has prompted many popular destinations to come up with innovative offerings to attract Muslims tourists.

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