NST Online Business Times : latest
NST Online Business Times : latest |
| CIMB raises Gamuda target price Posted: 27 Jun 2013 06:52 PM PDT CIMB Investment Bank Research has raised its target price on shares of Gamuda Bhd to RM5.77 from RM5.60 after the property developer's core profit for the first nine months of its financial year came above expectations. Shares of Gamuda gained 2.85 per cent to RM4.69, while the benchmark index rose 0.54 per cent. The brokerage expects a stronger performance in the current quarter due to Gamuda's RM1.2 billion in unbilled sales and its ongoing work on the country's Mass Rapid Transit (MRT)project. New MRT lines could double Gamuda's outstanding order book of RM3.9 billion, CIMB said in a report to clients on Friday.
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| KLCI improves on recovery US markets Posted: 27 Jun 2013 06:57 PM PDT Malaysia's benchmark stock index KLSE opened higher on Friday as Wall Street extended its recovery on expectations the US Federal Reserve would not curb stimulus amidst weak economic indicators. The index rose 0.16 per cent in early trade, led by gains in SapuraKencana Petroleum Bhd, which won a US$2.7 billion contract from Brazil's Petrobas on Thursday, and YTL Corp Bhd. Local equities could continue to rise on Friday, supported by stronger external sentiment, HwangDBS said in a report. The brokerage said stocks of interest included Muhibbah Engineering Bhd after the company was given a licence to participate in the construction of facilities and fabrication works locally, and MPHB Capital Bhd, which is listing on Friday.
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