Business Snap Shots
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
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.
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