MRCB, E&O, Public Bank, Hong Leong Bank, AMMB to see trading interest

  • Business
  • Thursday, 21 Mar 2013

KUALA LUMPUR: JF Apex Research expects Malaysian Resources Corportation Bhd (MRCB), Eastern & Oriental Bhd and the banks Public Bank, Hong Leong Bank and AMMB to see trading interest on Thursday.

The research house said a news report stated MRCB had received a letter of intent for the RM850mil upgrade of Klang Valley double tracking system. As for E&O, it had teamed up with a Japanese partner for a property project in Kuala Lumpur.

JF Apex Research said Public Bank, Hong Leong Bank, AMMB could see trading interest after Bank Negara Malaysia said the Financial Service Act (FSA) would not affect their shareholdings.

As for Notion Vtec, it said the group was planning to venture into the aerospace and oil & gas businesses.

Overnight on Wall Street, US stocks finished higher Wednesday, wiping out most of the past week's losses, after the Federal Reserve reaffirmed its policies on bond purchases and record-low interest rates and as investors shrugged off concerns over Cyprus.

At Bursa Malaysia, the FBM KLCI rose 6.08 points to 1,631.54 on Wednesday. The KLCI had rebounded after investors were jittery about the Cyprus concerns.

“We expect the index to remain range bound with expectations of the upcoming general elections,” said JF Apex Research.

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