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RHB Research upgrades MRCB to Buy, fair value RM1.82

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RHB Research upgrades MRCB to Buy, fair value RM1.82 Empty RHB Research upgrades MRCB to Buy, fair value RM1.82

Post by Cals Tue 01 Apr 2014, 01:20

RHB Research upgrades MRCB to Buy, fair value RM1.82
Business & Markets 2014
Written by theedgemalaysia.com   
Monday, 31 March 2014 07:51

KUALA LUMPUR (March 31): RHB Research has upgraded Malaysian Resources Corporation Bhd (MRCB) to a Buy (from Neutral) with a fair value of RM1.82 and said it was raising its FY14F numbers for MRCB by 10% and fair value by 38%.

In a note Monday, the research house said it was impressed by the tremendous pace MRCB had gathered recently in its restructuring drive.

“While much remains to be done, its management has won our vote of confidence.

“We like MRCB for its prime landbank, as well as its strength in transit-oriented development – which makes it a strong contender for “Project MX-1” of Kwasa Damansara,” it said. 
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