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Market speculation keeps Proton in focus
by hlk Fri 16 Dec 2011, 13:40
KUALA LUMPUR (Dec 16): The recent heavy news flow on PROTON HOLDINGS BHD [] has kept the stock in the limelight over the past two weeks, and the shares were yet again actively traded on Friday.
At 9.40am, Proton was up 14 sen to RM4.69 with 5.58 million shares done.
The stock extended its gains this morning despite UMW HOLDINGS BHD [] denying a news report that it was in talks to acquire Khazanah Nasional Bhd’s 42.75 stake in the carmaker.
The other names that have been bandied by the press are DRB-Hicom Holdings Bhd and most recently, the Naza Group.
In a note earlier this week, Hwang DBS Vickers Research said Khazanah’s sale looked increasingly more likely, in its view.
HDBSVR said assuming Khazanah sold its 42.7% stake and not a partial
interest, there might be a general offer on the cards unless exemption
was given.
“We think DRB-Hicom has the financial strength as well as track
record in the automotive industry to take up the exercise if a GO
happens,” said the research house.
At 9.40am, Proton was up 14 sen to RM4.69 with 5.58 million shares done.
The stock extended its gains this morning despite UMW HOLDINGS BHD [] denying a news report that it was in talks to acquire Khazanah Nasional Bhd’s 42.75 stake in the carmaker.
The other names that have been bandied by the press are DRB-Hicom Holdings Bhd and most recently, the Naza Group.
In a note earlier this week, Hwang DBS Vickers Research said Khazanah’s sale looked increasingly more likely, in its view.
HDBSVR said assuming Khazanah sold its 42.7% stake and not a partial
interest, there might be a general offer on the cards unless exemption
was given.
“We think DRB-Hicom has the financial strength as well as track
record in the automotive industry to take up the exercise if a GO
happens,” said the research house.
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