Malaysian Resources Corp Bhd's (MRCB) share price rebounded after three consecutive days of losses. Yesterday, the counter gained 1 sen to 72.5 sen, off its intra-day high of 74 sen following reports that the company was involved in a consortium interested in the Penang monorail project. A brokerage in a report noted that MRCB's share price had undergone sharp corrections recently and that it was due for a technical rebound.
Petronas Gas Bhd's share price was marginally lower, down 10 sen to RM8.70 after the company reported its first-quarter results on Wednesday. The financial performance was within expectations, according to ECM Libra in a report yesterday.“While valuation may appear reasonable based on historical and regional basis, the stock is currently trading at a hefty of over 30% premium to the Kuala Lumpur Composite Index,” it said. Further upside was limited but the stock offered an attractive dividend yield of 4.8% for fiscal years 2007 and 2008, it added.