Malaysian Business Snap Shots
 
Star Online

 

WCT led gainers with a 50 sen, or 9.43%, jump in share price to a 12-month high of RM5.90 yesterday on continued interest in construction stocks. “Interest in construction stocks is still high,” an analyst said, adding that the company had exciting prospects, given the company's involvement in several large-scale projects in the Middle East, such as the RM1.3bil Bahrain City Centre and RM1.9bil New Doha International Airport.

SHARES in Ann Joo Resources, a steel making company, gained 23 sen, or 10.60%, to RM2.40 on active trade following growing interest among institutional and retail investors in the stock's improving fundamentals, an analyst said. A dealer said steel players expected steel prices to rise further after the Chinese New Year, especially with the commencement of some construction and infrastructure projects under the Ninth Malaysia Plan.

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THE asset-rich UEM, which has been getting a lot of attention from foreign funds, gained 36 sen, or 11.54%, to RM3.48 on heavy volume of 34.6 million shares.

It was reported yesterday that a special purpose vehicle led by Khazanah Nasional Bhd was at the advanced stage of negotiations to buy 2,000ha in Johor from UEM World.

Source: The Star Online