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Hot Stock MyEG rises 2.91% after CIMB Research says business will remain as usual

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Hot Stock MyEG rises 2.91% after CIMB Research says business will remain as usual

Post by Cals Mon 22 Feb 2016, 23:28

Hot Stock

[size=28]MyEG rises 2.91% after CIMB Research says business will remain as usual

By Surin Murugiah / theedgemarkets.com | February 22, 2016 : 10:44 AM MYT

KUALA LUMPUR (Feb 22): Shares of My E.G. Services Bhd (MyEG) rose 2.91% this morning after CIMB Research maintained its "add" rating on the stock with an unchanged target price of RM2.83 and said it was business as usual for the company despite the freeze on foreign workers.

At 10.24am, MyEG rose 6 sen to RM2.12 with 5.49 million shares done.

In a note Feb 21, CIMB Research said the government is freezing the hiring of new foreign workers until further notice.

"However, the ongoing rehiring programme will continue, which involves the registration of illegal foreign workers.

"MyEG's foreign workers' working permit renewal service (FWPR) is not affected, implying business as usual for the company.

"Maintain 'add' and target price," it said.

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Cals: Administrator; Posts : 25277 Credits : 57721 Reputation : 1766
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