Hot Stock Genting Malaysia rises on bargain hunting, fund-raising exercise

by **Cals** Thu 13 Aug 2015, 20:26

Hot Stock
Genting Malaysia rises on bargain hunting, fund-raising exercise

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By Danial Idraki / theedgemarkets.com | August 13, 2015 : 2:48 PM MYT

KUALA LUMPUR (Aug 13): [size=14]Genting Malaysia Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) climbed as much as 15 sen or 4% on bargain hunting and after digitaledge DAILY reported that the hotel and casino operator was raising funds.

digitaledge DAILY, quoting sources, reported today Genting Malaysia (fundamental: 2.4; valuation: 0.8) was raising RM2.4 billion from the fixed-income market. It was reported that Genting Malaysia was raising the funds to finance working capital and an integrated theme park that is slated to open by the end of next year.

At 12:30pm today, Genting Malaysia shares settled at RM3.94, the stock's highest so far today. The share price gave the company a market capitalisation of RM22.34 billion.

The stock saw some 1.6 million shares done. At 2:39pm, the shares were transacted at the same price.

Genting Malaysia shares had risen after settling lower at RM3.79 yesterday. On August 5, the stock closed at RM4.24.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
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